are all recession-resistant, though not recession-proof, with high demand for their utility-like services. Customers need cellphone plans, internet connections and access to streaming services in all seasons.
Mr. Sacke believes if the economy slips into recession, telecom companies have the added appeal of offering inexpensive forms of entertainment such as streaming movies, TV programs, and gaming. Mr. Dolgin favours BCE over Telus because BCE is a purer telecom play. Telus is investing in non-telecom businesses and while they have a lot of potential, they’re still unproven, Mr. Dolgin says., which was spun off in 2021. It helps companies including Fitbit and Uber Technologies Inc. moderate online content via things such as customer service chatbots. Telus Agriculture & Consumer Goods and Telus Health are both expected to go the same route.
In his earnings conference call, Rogers chief executive officer Tony Staffieri named immigration as one of three areas of mobile strength. The others were people returning to the office post-pandemic and resuming travel. In his call, BCE CEO Mirko Bibic also pointed to immigration. Mr. Dolgin favours Rogers as the most undervalued stock of the three in part because of the various dramas over the past year that have made headlines. These include the boardroom fight for control of the company, the network outage in July and the ongoing takeover battle for Shaw Communications Inc. While these factors don’t affect operating performance, they have depressed Rogers’ share price and this offers an opportunity for investment, he says.
First consider that there are only the “Big Two” telecom networks in Canada; Bell and Telus share infrastructure.
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