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COMMUNICATION SERVICES: Highly Concentrated With GOOGLE & META
3 min read
We continue to recommend a market-weight position in S&P 500 Communication Services, alongside our market-weight call on Information Technology, which we reiterated on April 25. The sector is a lopsided barbell. Alphabet and Meta together are the only two components of the sector's Interactive Media Services industry. Together, they account for almost 80% of the industry's market capitalization and 69% of its earnings (chart)
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Ed Yardeni
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Toby Hearst