The rollout of superfast 5G wireless service has lifted the stocks of its hardware providers, but not those of the wireless operators that will offer it.
China Mobile and China Tower are leading the world in 5G deployment, says a team of Bernstein analysts. As an operator, China Mobile will enjoy a more supportive pricing environment than most, while China Tower should see new revenue as it installs 5G antennas. Yet each of the stocks has fallen by more than 20% in the last year. That makes them attractive opportunities, says Bernstein, which rates each stock an Outperform. They could rise by 40%, says the firm.
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