13 Best Telecom Stocks to Buy According to Hedge Funds

11. Gogo Inc. (NASDAQ:GOGO)

Number of Hedge Fund Holders: 26

Gogo Inc. (NASDAQ:GOGO)  delivers broadband connectivity solutions to the aviation sector. It provides in-flight internet, voice, and entertainment services. Its infrastructure includes networks, antennas, and onboard systems, which enable seamless communication and data access for passengers and aircraft operators globally.

Only 36% of business jets and 22% of turboprops globally have broadband connectivity currently. This company’s core telecom business centers on providing in-flight connectivity for business and military aircraft. Gogo Inc. (NASDAQ:GOGO) planes saw a 16% increase in data usage compared to last year. Global flight departures have risen by 33% since 2019. The company is investing in new technologies to capitalize on this growth. It has received PMA (Parts Manufacturer Approval) for its Galileo HDX LEO antenna and is developing the Galileo FDX high-speed LEO terminal, which is set to launch in H2 2025.

The company’s 5G ATG network is in development, with chip fabrication underway. It’s pushing its AVANCE platform, which is an easily upgradable hardware and software system, to secure long-term customer relationships. The company is expanding its customer base, with more planes using the GEO service and a record number of customers upgrading to their AVANCE system. This led to a higher ARPU of $3,500 in Q4 2024. The company also received a $334 million grant from the FCC to improve its network infrastructure.