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U.S. Communications Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies77
  • 7D-1.6%
  • 3M32.4%
  • 1Y87.5%
  • YTD46.0%

Over the last 7 days, the Communications industry has dropped 1.6%, driven by a pullback from Ciena of 16%. In the past year, the industry has gained 87%. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Jun 2026US$998.2bUS$115.3bUS$20.6b32.6x48.5x8.7x
Tue, 05 May 2026US$940.4bUS$111.5bUS$18.5b42.1x50.7x8.4x
Thu, 02 Apr 2026US$742.3bUS$109.2bUS$18.4b43.5x40.4x6.8x
Sat, 28 Feb 2026US$747.6bUS$109.0bUS$18.3b43.3x40.9x6.9x
Mon, 26 Jan 2026US$672.8bUS$106.1bUS$16.7b31.6x40.2x6.3x
Wed, 24 Dec 2025US$677.8bUS$106.1bUS$16.7b34x40.5x6.4x
Fri, 21 Nov 2025US$648.3bUS$105.9bUS$16.6b29.1x39.1x6.1x
Sun, 19 Oct 2025US$659.7bUS$103.3bUS$16.0b30.1x41.2x6.4x
Tue, 16 Sep 2025US$631.7bUS$103.3bUS$16.0b28.6x39.5x6.1x
Thu, 14 Aug 2025US$628.8bUS$101.8bUS$15.4b28.1x40.8x6.2x
Sat, 12 Jul 2025US$558.9bUS$100.5bUS$14.0b29.3x40x5.6x
Mon, 09 Jun 2025US$542.6bUS$105.7bUS$14.4b27x37.8x5.1x
Wed, 07 May 2025US$497.8bUS$103.3bUS$13.1b21.8x37.9x4.8x
Fri, 04 Apr 2025US$499.2bUS$102.8bUS$12.4b24.3x40.1x4.9x
Sun, 02 Mar 2025US$531.1bUS$103.1bUS$12.3b27.8x43.1x5.1x
Tue, 28 Jan 2025US$575.7bUS$102.4bUS$11.9b25.1x48.2x5.6x
Thu, 26 Dec 2024US$550.3bUS$102.5bUS$12.1b25.4x45.6x5.4x
Sat, 23 Nov 2024US$522.1bUS$102.5bUS$12.1b23.6x43.1x5.1x
Mon, 21 Oct 2024US$506.7bUS$103.0bUS$12.0b28.4x42.2x4.9x
Wed, 18 Sep 2024US$458.7bUS$103.0bUS$12.0b24.7x38.2x4.5x
Fri, 16 Aug 2024US$415.1bUS$101.2bUS$11.7b24x35.6x4.1x
Sun, 14 Jul 2024US$355.8bUS$92.6bUS$12.6b26.5x28.2x3.8x
Tue, 11 Jun 2024US$326.3bUS$92.7bUS$12.6b27.3x25.9x3.5x
Thu, 09 May 2024US$325.6bUS$94.5bUS$14.2b27x23x3.4x
Sat, 06 Apr 2024US$394.6bUS$104.8bUS$16.3b34.3x24.3x3.8x
Mon, 04 Mar 2024US$397.0bUS$104.8bUS$16.4b32.6x24.3x3.8x
Wed, 31 Jan 2024US$352.0bUS$96.0bUS$15.1b23.8x23.4x3.7x
Fri, 29 Dec 2023US$331.3bUS$96.1bUS$15.1b24.9x21.9x3.4x
Sun, 26 Nov 2023US$312.6bUS$96.2bUS$14.9b23.8x21x3.2x
Tue, 24 Oct 2023US$314.1bUS$94.7bUS$14.6b20.5x21.5x3.3x
Thu, 21 Sep 2023US$333.1bUS$94.7bUS$14.6b24.1x22.8x3.5x
Sat, 19 Aug 2023US$331.1bUS$94.5bUS$14.6b25.6x22.6x3.5x
Mon, 17 Jul 2023US$311.3bUS$91.4bUS$13.5b23.8x23x3.4x
Wed, 14 Jun 2023US$316.5bUS$91.4bUS$13.5b20.2x23.4x3.5x
Price to Earnings Ratio

23.4x


Total Market Cap: US$316.5bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.5x202420252026
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 48.5x which is higher than its 3-year average PE of 34.5x.
  • The 3-year average PS ratio of 4.9x is lower than the industry's current PS ratio of 8.7x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 8.0% 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-2.79%
Tech-5.22%
Communications-1.63%
Communications Equipment-1.63%
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
CSCO Cisco SystemsUS$121.641.0%
+US$4.8b		84.1%PE40.1x
AAOI Applied OptoelectronicsUS$177.0011.7%
+US$1.5b		951.7%PS28x
MSI Motorola SolutionsUS$410.341.8%
+US$1.2b		-1.8%PE32.6x
LITE Lumentum HoldingsUS$863.661.0%
+US$676.9m		960.2%PE153.1x
FFIV F5US$393.352.6%
+US$558.6m		33.1%PE31.3x

Latest News

VSAT
US$67.18
Viasat
7D
-16.7%
1Y
629.4%
CSCO
US$121.64
Cisco Systems
7D
1.0%
1Y
84.1%
Narrative Update • Jun 06

CSCO: AI Infrastructure And Security Execution Will Shape Returns From Here

Analysts have inched Cisco's fair value estimate higher to about $125.82 from $124.45, reflecting a wave of higher price targets across the Street that cite stronger AI infrastructure momentum, robust networking and optical demand, and expectations for resilient margins supported by hyperscaler and enterprise AI spending. Analyst Commentary Recent Street research shows a clear shift toward higher fair value views for Cisco Systems, anchored in AI infrastructure demand, networking strength, and expectations for margin resilience.
FFIV
US$393.35
F5
7D
2.6%
1Y
33.1%
AAOI
US$177.00
Applied Optoelectronics
7D
11.7%
1Y
951.7%
Narrative Update • Jun 06

AAOI: Heavy Dependence On One 1.6T Order Will Restrain Future Upside

Analysts have lifted their price target on Applied Optoelectronics by $3.50 to $57.50, citing updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples following recent research that highlights large 1.6T transceiver orders and expectations for meaningful customer demand. Analyst Commentary Recent research on Applied Optoelectronics has focused heavily on large 1.6T transceiver orders and the implications these contracts could have for long term revenue, profitability, and valuation.
ANET
US$154.27
Arista Networks
7D
-3.3%
1Y
58.6%
GILT
US$14.52
Gilat Satellite Networks
7D
-15.4%
1Y
142.8%
ONDS
US$10.43
Ondas
7D
-21.1%
1Y
513.5%
Narrative Update • Jun 05

ONDS: Federal Drone Support And Defense Backlog Will Drive Future Upside

Analysts have lifted their price target on Ondas by $6, citing sector interest related to U.S. federal support for domestic drone companies and recent firm-specific research that incorporates updated growth and margin assumptions. Analyst Commentary Recent research around Ondas reflects a mix of optimism tied to policy headlines and price target revisions, alongside reminders that execution risks and open questions still matter for valuation.
MSI
US$410.34
Motorola Solutions
7D
1.8%
1Y
-1.8%
AVNW
US$18.04
Aviat Networks
7D
1.5%
1Y
-18.2%
Narrative Update • Jun 05

AVNW: Short Report Dislocation Will Be Resolved By Fiscal 2026 Execution Confidence

Aviat Networks' analyst price target has been trimmed by about $1, as analysts factor in more moderate assumptions for revenue growth and profit margins, along with a higher expected future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts highlight prior support for Aviat Networks even after a short report, pointing to confidence in the business model and the stock's longer term potential despite near term volatility.
CIEN
US$488.21
Ciena
7D
-15.9%
1Y
571.4%
HLIT
US$13.27
Harmonic
7D
-12.2%
1Y
39.8%
Narrative Update • Jun 04

HLIT: Broadband Focus And Share Buybacks Will Support Stronger Future Cash Returns

Harmonic's fair value estimate has been raised from $17.00 to $20.00 as analysts factor in updated assumptions on revenue growth, profitability, discount rates and future P/E, following a series of higher price targets from firms including Northland, Needham, Rosenblatt, Barclays and Jefferies. Analyst Commentary Bullish analysts are clustering around higher price targets for Harmonic, with recent moves ranging from US$1 to US$5 increases across several research updates.
VIAV
US$47.56
Viavi Solutions
7D
-2.1%
1Y
403.8%
Narrative Update • Jun 03

VIAV: AI Data Center Demand And Defense Ties Will Drive Future Upside

Viavi Solutions' analyst price target has been raised by $24.00, with analysts pointing to updated fair value estimates, higher modeled revenue growth and a richer assumed future P/E multiple, even as they temper profit margin expectations and slightly increase the discount rate. Analyst Commentary Recent research points to a cluster of higher price targets for Viavi Solutions, with several firms revisiting their models and adjusting assumptions on growth, profitability and valuation multiples.
BOSC
US$4.15
B.O.S. Better Online Solutions
7D
1.0%
1Y
-7.8%
Analysis Article • Jun 03

What Does B.O.S. Better Online Solutions Ltd.'s (NASDAQ:BOSC) Share Price Indicate?

B.O.S. Better Online Solutions Ltd. ( NASDAQ:BOSC ), is not the largest company out there, but it saw significant share...
LITE
US$863.66
Lumentum Holdings
7D
1.0%
1Y
960.2%
New Narrative • Jun 03

Lumentum: An AI-Fueled Recovery That Has Not Yet Earned Its $74 Billion Tag

I. Industry and Business Model Analysis Lumentum is a photonics manufacturer — it designs and produces the lasers, optical chips, modules, and subsystems that move data through fiber-optic networks.
EXTR
US$28.02
Extreme Networks
7D
5.7%
1Y
68.5%
Narrative Update • Jun 01

EXTR: AI Platform Adoption And Execution Will Shape Balanced Risk Reward Profile

Narrative Update on Extreme Networks The updated analyst price target for Extreme Networks moves from $24.31 to $26.06, with analysts pointing to refreshed fair value estimates and revised assumptions for discount rate and future P/E as key drivers of the change. Analyst Commentary Recent Street research on Extreme Networks centers on revised price targets, with several firms adjusting their fair value views and underlying assumptions for discount rates and future P/E levels.
UI
US$567.33
Ubiquiti
7D
-2.8%
1Y
38.9%