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U.S. Communications Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies76
  • 7D-3.4%
  • 3M9.8%
  • 1Y48.9%
  • YTD9.0%

Over the last 7 days, the Communications industry has dropped 3.4%, driven by a pullback from Lumentum Holdings of 29%. Over the past 12 months, the industry was up 49%. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

Has the U.S. Communications Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$737.7bUS$109.3bUS$18.4b39.9x40.1x6.7x
Thu, 05 Feb 2026US$731.2bUS$106.6bUS$16.8b31x43.4x6.9x
Sat, 03 Jan 2026US$672.0bUS$106.1bUS$16.7b36.4x40.2x6.3x
Mon, 01 Dec 2025US$661.3bUS$105.8bUS$16.6b31.6x39.8x6.2x
Wed, 29 Oct 2025US$686.1bUS$103.4bUS$16.0b30.9x42.8x6.6x
Fri, 26 Sep 2025US$637.0bUS$103.3bUS$16.0b30x39.8x6.2x
Sun, 24 Aug 2025US$606.6bUS$103.1bUS$16.2b25.5x37.4x5.9x
Tue, 22 Jul 2025US$566.4bUS$100.5bUS$14.0b28.5x40.5x5.6x
Thu, 19 Jun 2025US$526.7bUS$105.7bUS$14.3b26.6x36.7x5x
Sat, 17 May 2025US$534.6bUS$105.5bUS$14.5b25.8x36.9x5.1x
Mon, 14 Apr 2025US$463.5bUS$102.8bUS$12.4b24.8x37.3x4.5x
Wed, 12 Mar 2025US$490.1bUS$103.1bUS$12.4b25.7x39.7x4.8x
Fri, 07 Feb 2025US$572.4bUS$102.5bUS$12.2b26x46.8x5.6x
Sun, 05 Jan 2025US$544.6bUS$102.4bUS$12.1b24.5x45x5.3x
Tue, 03 Dec 2024US$531.7bUS$102.5bUS$12.1b24.9x43.9x5.2x
Thu, 31 Oct 2024US$500.4bUS$103.0bUS$12.0b24.3x41.7x4.9x
Sat, 28 Sep 2024US$479.4bUS$103.0bUS$12.0b26.4x40x4.7x
Mon, 26 Aug 2024US$455.5bUS$103.1bUS$12.0b28.5x38.1x4.4x
Wed, 24 Jul 2024US$347.5bUS$92.6bUS$12.6b27.2x27.6x3.8x
Fri, 21 Jun 2024US$340.3bUS$92.7bUS$12.6b26.4x27x3.7x
Sun, 19 May 2024US$344.9bUS$92.4bUS$12.7b27.3x27.1x3.7x
Tue, 16 Apr 2024US$388.2bUS$104.8bUS$16.3b33x23.9x3.7x
Thu, 14 Mar 2024US$400.9bUS$104.8bUS$16.3b32.7x24.5x3.8x
Sat, 10 Feb 2024US$400.6bUS$105.5bUS$16.5b29.6x24.3x3.8x
Mon, 08 Jan 2024US$326.6bUS$96.1bUS$15.1b25x21.6x3.4x
Wed, 06 Dec 2023US$311.5bUS$96.0bUS$14.9b25x20.9x3.2x
Fri, 03 Nov 2023US$321.6bUS$95.0bUS$14.8b23.2x21.8x3.4x
Sun, 01 Oct 2023US$325.4bUS$94.7bUS$14.6b24.6x22.2x3.4x
Tue, 29 Aug 2023US$334.6bUS$94.5bUS$14.6b29.4x22.9x3.5x
Thu, 27 Jul 2023US$325.1bUS$91.5bUS$13.5b26.1x24.1x3.6x
Sat, 24 Jun 2023US$306.1bUS$91.4bUS$13.5b23.6x22.7x3.3x
Mon, 22 May 2023US$297.6bUS$91.2bUS$13.5b25.1x22.1x3.3x
Wed, 19 Apr 2023US$309.5bUS$89.0bUS$13.2b26.3x23.5x3.5x
Fri, 17 Mar 2023US$310.3bUS$89.0bUS$13.1b25.9x23.7x3.5x
Price to Earnings Ratio

23.7x


Total Market Cap: US$310.3bTotal Earnings: US$13.1bTotal Revenue: US$89.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 32.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Communications industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 40.1x which is higher than its 3-year average PE of 32.5x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 6.7x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 7.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market-2.17%
Tech-0.39%
Communications-3.38%
Communications Equipment-3.38%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ANET Arista NetworksUS$132.892.8%
+US$4.5b		71.3%PE47.6x
FFIV F5US$286.223.0%
+US$464.6m		7.4%PE22.9x
NTCT NetScout SystemsUS$29.802.2%
+US$46.9m		43.0%PE22.4x
ITRN Ituran Location and ControlUS$49.534.4%
+US$41.2m		36.3%PE17x
AUDC AudioCodesUS$8.066.8%
+US$13.7m		-21.4%PE24.1x

Latest News

VIAV
US$27.88
Viavi Solutions
7D
-21.1%
1Y
160.3%
AUDC
US$8.06
AudioCodes
7D
6.8%
1Y
-21.4%
ITRN
US$49.53
Ituran Location and Control
7D
4.4%
1Y
36.3%
MSI
US$460.76
Motorola Solutions
7D
-5.2%
1Y
10.8%
CIEN
US$294.17
Ciena
7D
-16.8%
1Y
348.9%
FFIV
US$286.22
F5
7D
3.0%
1Y
7.4%
NTCT
US$29.80
NetScout Systems
7D
2.2%
1Y
43.0%

NTCT: Slower Revenue Outlook Will Outweigh Margin Gains And Share Repurchases

Analysts kept their price target for NetScout Systems steady at $27.27, citing only small tweaks to assumptions such as a slightly higher discount rate, more moderate expectations for revenue growth, a modestly higher profit margin, and a similar forward P/E outlook. What's in the News NetScout extended its Omnis AI Insights solution to communications service providers, aiming to turn raw network data into AI ready inputs for customer experience, predictive maintenance, and security use cases, with features such as a unified network view and curated, real time smart data streams (Product related announcement).
ANET
US$132.89
Arista Networks
7D
2.8%
1Y
71.3%

ANET: Diversified AI Compute And 6GW Buildout Will Drive Networking Upside

The analyst price target for Arista Networks has been raised from $194.25 to $207.07 as analysts point to stronger AI related networking demand, including benefits from diversified compute spending and large scale data center deployments tied to recent hyperscaler and chipmaker partnerships. Analyst Commentary Bullish analysts are highlighting Arista Networks as a key beneficiary of large scale AI data center build outs, especially where cloud platforms and chipmakers are broadening their compute choices beyond a single vendor.
AAOI
US$95.58
Applied Optoelectronics
7D
-6.8%
1Y
575.5%

AAOI: Amazon Reliance And Unproven 800G Ramp Will Restrain Future Returns

Analysts have sharply raised their price targets on Applied Optoelectronics, with one increase from $15 to $54. They cite continued strength in 400G products and the expectation that 800G will begin contributing incremental growth from Q2, particularly supported by firm demand from a key customer such as Amazon.
LITE
US$558.44
Lumentum Holdings
7D
-28.7%
1Y
872.7%
VSAT
US$43.79
Viasat
7D
-7.3%
1Y
354.7%

VSAT: Spinout Hopes Around Defense Unit Will Likely Disappoint

The latest Street research implies a higher consolidated analyst price target for Viasat, with firms pointing to updated sum of the parts valuation work, a revised $39 target from Morgan Stanley, and potential value from any future spinout of the defense and advanced technologies division, which analysts see as echoing recent plans at L3Harris. Analyst Commentary Recent research on Viasat has centered on how to value the different pieces of the business, with several firms talking about sum of the parts work, potential spinout scenarios, and what that could mean for the equity story.
CSCO
US$78.64
Cisco Systems
7D
-1.0%
1Y
26.7%

Cisco Systems, Inc. (CSCO): The AI Breakout – Scaling Networking for the Agentic Era

Cisco Systems (CSCO) is currently trading at $79.46 , representing a powerful 23.9% gain over the last 12 months as the company successfully moves past its post-pandemic "inventory digestion" phase. The market sentiment shifted dramatically following the February 11, 2026, earnings release, where Cisco posted record quarterly revenue of $15.3 billion and a 31% jump in GAAP EPS.
ASNS
US$0.32
Actelis Networks
7D
70.1%
1Y
-95.7%

ASNS: Critical Infrastructure Orders And Delisting Overhang Will Shape Future Upside Potential

Analysts have reset their price target for Actelis Networks from $21.00 to $5.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Nasdaq staff issued a written notice on February 4, 2026 to delist Actelis Networks from The Nasdaq Capital Market after the stock stayed below the $1.00 minimum bid price for 30 consecutive business days, with Actelis planning to request a hearing that would temporarily delay any suspension or delisting action (Nasdaq notice).
UI
US$749.40
Ubiquiti
7D
-6.1%
1Y
149.0%
FIEE
US$6.43
FiEE
7D
0.9%
1Y
1,328.9%
CHAI
US$1.88
Core AI Holdings
7D
6.8%
1Y
n/a