Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Communications Industry Analysis

UpdatedJun 19, 2026
DataAggregated Company Financials
Companies78
  • 7D-0.2%
  • 3M30.4%
  • 1Y91.6%
  • YTD46.0%

Over the last 7 days, the Communications industry has remained flat, although notably Arista Networks gained 8.5%. As for the the longer term, the industry is up 92% over the past 12 months. 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
Fri, 19 Jun 2026US$993.1bUS$115.3bUS$20.6b31.3x48.2x8.6x
Sun, 17 May 2026US$981.6bUS$114.8bUS$20.2b30.9x48.6x8.6x
Tue, 14 Apr 2026US$837.7bUS$109.2bUS$18.4b46.5x45.6x7.7x
Thu, 12 Mar 2026US$761.6bUS$109.3bUS$18.4b39.9x41.4x7x
Sat, 07 Feb 2026US$722.5bUS$106.8bUS$17.2b32.8x41.9x6.8x
Mon, 05 Jan 2026US$676.2bUS$106.1bUS$16.7b36.4x40.4x6.4x
Wed, 03 Dec 2025US$655.3bUS$105.8bUS$16.6b32.1x39.5x6.2x
Fri, 31 Oct 2025US$691.2bUS$103.5bUS$16.0b33.5x43.3x6.7x
Sun, 28 Sep 2025US$638.4bUS$103.3bUS$16.0b30.2x39.9x6.2x
Tue, 26 Aug 2025US$606.3bUS$103.1bUS$16.2b25.4x37.3x5.9x
Thu, 24 Jul 2025US$562.5bUS$100.5bUS$14.0b28.7x40.2x5.6x
Sat, 21 Jun 2025US$529.4bUS$105.7bUS$14.3b26.8x36.9x5x
Mon, 19 May 2025US$536.0bUS$105.5bUS$14.5b25.8x37x5.1x
Wed, 16 Apr 2025US$466.0bUS$102.8bUS$12.4b24.8x37.5x4.5x
Fri, 14 Mar 2025US$488.2bUS$103.1bUS$12.3b24.9x39.6x4.7x
Sun, 09 Feb 2025US$572.3bUS$102.7bUS$12.3b25.6x46.6x5.6x
Tue, 07 Jan 2025US$544.6bUS$102.4bUS$12.1b24.9x45x5.3x
Thu, 05 Dec 2024US$536.5bUS$102.5bUS$12.1b24.8x44.3x5.2x
Sat, 02 Nov 2024US$489.5bUS$102.8bUS$12.1b23.8x40.5x4.8x
Mon, 30 Sep 2024US$477.1bUS$103.0bUS$12.0b26.4x39.8x4.6x
Wed, 28 Aug 2024US$453.1bUS$103.1bUS$12.0b27.8x37.9x4.4x
Fri, 26 Jul 2024US$341.7bUS$92.6bUS$12.6b27.2x27.1x3.7x
Sun, 23 Jun 2024US$345.1bUS$92.7bUS$12.6b26.5x27.3x3.7x
Tue, 21 May 2024US$344.9bUS$92.4bUS$12.7b27.3x27.1x3.7x
Thu, 18 Apr 2024US$379.9bUS$104.8bUS$16.3b32.5x23.4x3.6x
Sat, 16 Mar 2024US$399.5bUS$104.8bUS$16.3b31.7x24.5x3.8x
Mon, 12 Feb 2024US$400.6bUS$105.5bUS$16.5b29.6x24.3x3.8x
Wed, 10 Jan 2024US$333.1bUS$96.1bUS$15.1b25.3x22x3.5x
Fri, 08 Dec 2023US$308.8bUS$96.1bUS$15.1b25.1x20.5x3.2x
Sun, 05 Nov 2023US$327.1bUS$94.9bUS$14.7b23.1x22.2x3.4x
Tue, 03 Oct 2023US$325.4bUS$94.7bUS$14.6b26x22.2x3.4x
Thu, 31 Aug 2023US$342.9bUS$94.5bUS$14.6b30.5x23.5x3.6x
Sat, 29 Jul 2023US$320.8bUS$91.6bUS$13.4b24.4x23.9x3.5x
Mon, 26 Jun 2023US$306.1bUS$91.4bUS$13.5b23.6x22.7x3.3x
Price to Earnings Ratio

22.7x


Total Market Cap: US$306.1bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.7x202420252026
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 48.2x which is higher than its 3-year average PE of 34.7x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.6x.
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 Market1.65%
Tech3.30%
Communications-0.20%
Communications Equipment-0.20%
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$169.678.5%
+US$16.7b		88.0%PE57.4x
UI UbiquitiUS$589.461.3%
+US$465.4m		56.4%PE37.9x
HLIT HarmonicUS$15.083.9%
+US$61.8m		71.6%PE192.6x
EXTR Extreme NetworksUS$31.381.0%
+US$40.5m		89.2%PE252.2x
DGII Digi InternationalUS$69.061.1%
+US$27.5m		107.3%PE60.2x

Latest News

CIEN
US$428.22
Ciena
7D
-3.8%
1Y
480.1%
Analysis Article • 10h

Ciena (CIEN) Stock Could Be 5.3% Undervalued After Its Recent 21% Pullback

Ciena (CIEN) has been drawing attention after a month in which the stock declined about 21%, even as its total return over the past three months remained positive. This has prompted investors to reassess the company’s recent performance. See our latest analysis for Ciena. Set against a 74.03% year to date share price return and a very large 1 year total shareholder return, Ciena’s recent 20.98% 1 month share price decline signals fading short term momentum after a strong longer term run. If...
MSI
US$395.17
Motorola Solutions
7D
-3.7%
1Y
-2.4%
VIAV
US$47.17
Viavi Solutions
7D
-11.8%
1Y
401.8%
LITE
US$850.00
Lumentum Holdings
7D
-4.5%
1Y
860.9%
Analysis Article • Jun 18

Lumentum Holdings (LITE) Stock Could Be 82.9% Undervalued If Turnaround Hopes Hold

Lumentum Holdings (LITE) has recently drawn investor attention after a period where the stock is up about 1.9% over the past week but down roughly 1.7% over the past month. See our latest analysis for Lumentum Holdings. Zooming out, Lumentum Holdings’ recent 7 day share price gain sits against a 90 day share price return of 12.67% and a very large 1 year total shareholder return. This suggests that momentum has been building over time as investors reassess its growth prospects and risk...
ANET
US$169.67
Arista Networks
7D
8.5%
1Y
88.0%
Narrative Update • Jun 18

ANET: AI Networking Refresh And Backlog Strength Will Support Future Premium Multiple

Arista Networks' analyst price target has been revised slightly higher to about $190 from about $188, with analysts citing ongoing interest in the company as a way to gain exposure to an AI driven front-end networking refresh cycle and related AI traffic workloads. Analyst Commentary Recent research on Arista Networks highlights a mix of enthusiasm around AI driven networking use cases and some caution about how much of that optimism is already reflected in the valuation.
AAOI
US$167.34
Applied Optoelectronics
7D
-4.4%
1Y
746.4%
Analysis Article • Jun 17

Applied Optoelectronics (AAOI) Stock Could Be 119% Overvalued After AI Optics Rally

Applied Optoelectronics (AAOI) stock is back in focus after a series of AI related catalysts, including a Texas manufacturing expansion, stronger QuantumLink software ties with Spectrum, and public support for optics from Nvidia’s CEO. See our latest analysis for Applied Optoelectronics. After surging on AI infrastructure enthusiasm and the expanded QuantumLink deal with Spectrum, Applied Optoelectronics’ share price has recently pulled back, with a 1-day share price return of 10.83% down and...
EXTR
US$31.38
Extreme Networks
7D
1.0%
1Y
89.2%
Narrative Update • Jun 17

EXTR: AI Networking Adoption And Execution Will Shape Measured Stock Risk Reward Profile

Analysts have raised their fair value estimate for Extreme Networks stock from $26.06 to $29.06, reflecting updated price targets tied to expectations for continued order momentum for the Extreme Platform ONE offering and projected market share gains compared with larger networking peers. Analyst Commentary Recent Street research on Extreme Networks highlights a cluster of higher price targets, with bullish analysts pointing to product traction for Extreme Platform ONE and potential market share shifts against larger networking competitors.
HLIT
US$15.08
Harmonic
7D
3.9%
1Y
71.6%
CSCO
US$119.54
Cisco Systems
7D
-1.3%
1Y
80.2%
Analysis Article • Jun 16

Cisco Systems (CSCO) Stock Could Be 8.7% Overvalued After New AI Partnerships

Cisco Systems (CSCO) has moved back into the spotlight after new AI focused alliances with Equinix and NVIDIA, alongside the Cisco Cloud Control launch, recast the stock as an enterprise AI infrastructure partner. See our latest analysis for Cisco Systems. Despite a small 0.8% decline in the latest session, Cisco Systems’ recent AI partnerships and product launches have coincided with a 51.6% 90 day share price return and a 160.71% 5 year total shareholder return, indicating strong momentum...
DGII
US$69.06
Digi International
7D
1.1%
1Y
107.3%
VSAT
US$64.13
Viasat
7D
-8.6%
1Y
397.5%
Narrative Update • Jun 16

VSAT: Regulatory Delays On New Satellites Will Likely Cap Stock Upside

The analyst price target for Viasat has shifted from $48.00 to $49.00, reflecting analyst views that recent sector-wide target increases, along with the emphasis on the value of Viasat's spectrum assets, defense technology operations, and upcoming Viasat-3 milestones, support a slightly higher fair value estimate. Analyst Commentary Recent research coverage on Viasat highlights a wide range of price targets, with several firms publishing higher numbers that cluster in the US$90 to US$106 range.
FFIV
US$385.49
F5
7D
-2.7%
1Y
34.3%
CLFD
US$38.88
Clearfield
7D
2.9%
1Y
-2.2%
Narrative Update • Jun 06

CLFD: Buybacks And Partnerships Will Support Fiber Platform Adoption Through 2026

Analysts have trimmed their price target on Clearfield by $0.50 to $43.75, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Clearfield entered a partnership with VoltServer to combine Clearfield fiber management and connectivity products with VoltServer Digital Electricity power systems to support 5G small cell networks and other digital infrastructure.
KVHI
US$9.64
KVH Industries
7D
11.8%
1Y
77.2%
AVNW
US$20.04
Aviat Networks
7D
4.8%
1Y
-10.9%
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.
UI
US$589.46
Ubiquiti
7D
1.3%
1Y
56.4%