T-Mobile US (TMUS)

They used to be marginal players in the wireless industry. Then, bold management, a customer-friendly ethos, great branding and the Spring merger, TMUS has become a heavy hitter. Since end-2019, TMUS has gained 83% while Verizon lost 7% and AT&T fell 25%. The difference is execution. All the carriers are rushing to build their 5G networks while T-Mobil already leads in 5G build. TMUS boasted 1.4 million net subscription additions in Q1 when the street expected under 1 million.

An essential 5G play The CEO has made this best in class. The Sprint merger put them on near-equal footing with ATT and Verizon. The new CEO has laid the groundwork for 5G to give TMUS the most widely available 5G network, though Verizon is the fastest. TMUS' 5G range now covers 280 million people. This week they announced huge deals with Nokia and Ericsson to expand that network. It's pulled back from highs for no reason.

AT&T is a sell. Verizon is good for income, but T-Mobile offers growth in this space.

Still margin pressures on business and some slowing growth. Good cash generation. Balance sheet is in good shape so he wouldn’t have any trouble owning this. Thinks that the best growth is behind some of the telecom companies right now.