The Associated Press says that Sprint already warned in January that subscriber numbers were lower than what Wall Street expected.
The telecom sector may be wired for a downward trend. Before you hang up, consider Bush’s comments about protecting the phone companies. Could it affect related ETFs?
- iShares Dow Jones US Telecom (IYZ): Down 17.6% year-to-date; among its top holdings are AT&T (T) 22.6%; Sprint (S) 7.1%; Verizon (VZ) 14.6%.
- iShares S&P Global Telecommunications (IXP): Down 10.2% year-to-date; among its top holdings are AT&T 16%; Vodafone GRP (VOD) 12.6%; Telefonica SA (TEF) 9.6%.
IXP contains global exposure to the telecommunications industry, while IYZ focuses on domestic companies.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.