Do You Have These Top Communication Stocks On Your July 2022 Watchlist?
The communication industry has progressed by leaps and bounds over the years. With the advancement of technology, there are now various methods of communication. The sector includes not only traditional telecommunication companies such as T-Mobile (NASDAQ: TMUS) and Verizon (NYSE: VZ) but also social media giants such as Meta (NASDAQ: META) and Twitter (NYSE: TWTR). It goes without saying that these are companies that consumers use and rely on daily. As such, communication stocks are often on the minds of investors in the stock market.
Now, what makes the communication sector so resilient is the reliance that consumers have on its products and services. With talks of recession and inflation dominating the headlines, people are still not shying away from their need to stay connected and entertained. For instance, the latest season of Netflix’s (NASDAQ: NFLX) Stranger Things recorded a viewership of more than 1.15 billion hours over its first 28 days of release. Thus, making it the most popular English-language series on its streaming platform. As the communication sector continues to evolve, there is still plenty to look forward to. So, here are some of the top communication stocks worth noting in the stock market today.
Communication Stocks To Watch In July 2022
- Roblox Corp (NYSE: RBLX)
- DoorDash Inc (NYSE: DASH)
- Roku Inc (NASDAQ: ROKU)
- AT&T Inc (NYSE: T)
Roblox
Roblox is a technology company that operates a human co-experience platform. Users can interact with one another to explore and develop user-generated and 3D experiences. In fact, many consider the company to be one of the frontrunners in the metaverse space. Despite falling by over 50% this year, RBLX stock has been regaining some ground lately. In fact, the stock has risen by 28% over the past month. Last month, Roblox announced that Good Gaming, Inc will be expanding its MicroBuddies™ brand into the Roblox platform. Good Gaming believes that Roblox will bring the best out of its new strategic avenues for expansion in the interactive entertainment space.
Furthermore, there are also several encouraging key metrics from May 2022 that could potentially bring some optimism to investors. The company’s daily active users improved to 50.4 million, up 17% year-over-year. Along with that, the number of hours engaged was 3.6 billion, an increase of 10% compared to the same period last year. What’s more, Roblox estimates its revenue for the month to be between $194 million and $197 million, up 28% to 30% year-over-year. With that in mind, would you be betting on RBLX stock to continue its current momentum?
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DoorDash
Following that, let us look at the company that connects people through technology, DoorDash. In detail, it provides a local logistic platform that connects merchants, consumers, and dashers. The company’s DoorDash Marketplace enables merchants to establish an online presence and expand their reach to consumers. Hence, enabling local businesses to meet consumers’ needs with ease and convenience. In June, DoorDash announced the completion of its acquisition of European food delivery company Wolt Enterprises. This is part of the company’s goal of accelerating its international growth. Thus, bringing DoorDash to a total of 27 countries including the U.S.
On top of that, the company also recently collaborated with Loblaw Companies. Together, both companies will bring a new and innovative grocery delivery service to customers in Canada. Starting in August, PC Express™ Rapid Delivery will make grocery and convenience items available to customers in an expected express delivery time of 30 minutes or less. Not to mention, DoorDash will power same-day delivery for grocery and convenience items from all Loblaw banner stores through DoorDash Drive. As the company continues to expand, would you consider DASH stock as a top communication stock to watch?
Roku
Roku operates a television (TV) streaming platform in the United States, Mexico, and Canada. It operates through two segments, Platform, and Player. Its Platform segment engages in the sale of digital advertising and related services. Meanwhile, its Player segment is responsible for the sale of streaming players, audio products, and accessories. In fact, Roku and Walmart (NYSE: WMT) entered into a first-of-its-kind partnership in June to make TV streaming the next e-commerce shopping destination. Streamers will have access to purchasing featured products by Walmart directly on Roku’s platform. This unique collaboration will likely evolve shopping beyond the QR code and change the way customers interact and shop TV and video content.
Besides that, Roku also recently partnered with NBCUniversal Local to bring some of the latter’s local news channels to the Roku Channel. These channels will be available for users to access through The Roku Channel’s Live TV Guide. While there are many entertainment outlets available today, news media is still an important channel for information. In today’s world, audiences are increasingly opting to consume news through streaming. So, this new offering could be a hit among viewers due to the easy accessibility of streaming. All things considered, do you think ROKU stock will close the second half of the year strongly?
AT&T
Last but not least, we have the telecommunication provider, AT&T. While the company is known for its wireless and broadband services, it also has a huge presence in the media and television sector. Its WarnerMedia segment develops, produces, and distributes feature films, television, gaming, and other content over various formats. Despite trading sideways since the start of the year, T stock has still climbed more than 10% within the period. It is also noteworthy that the company declared last week a quarterly dividend of $0.2775 per share on its common shares.
Moreover, AT&T is continuously seeing increasing adoption of its products and services. Last week, the city of Amarillo announced a project that will install AT&T’s state-of-the-art fiber network to more than 22,000 customer locations throughout the city. The project will likely provide access to AT&T Fiber for homes, businesses, and even government agencies within the city center. Given these positive developments, should investors be keeping close tabs on T stock right now?
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