not vested
THE 'PICKS AND SHOVELS' OF TELECOM IS SOARING
Today's chart looks at a big "picks and shovels" winner in the worldwide mobile-data boom.
Regular readers know we're proponents of investing in picks-and-shovels companies to profit from sector and commodity booms. These companies don't bet it all on one project. Instead, they sell goods and services to an entire industry.
American Tower (AMT) is a great example. The company owns and leases real estate all over the world that telecom giants AT&T and Verizon use for wireless infrastructure (like cellphone towers).
While AT&T and Verizon fight over market share, American Tower profits from both – along with many other carriers around the globe.
As you can see in the chart below, business is steadily growing for American Tower. Over the past three years, shares are up 60%... and yesterday set a new all-time high.
As long as folks continue to buy mobile devices and use more and more data, wireless "picks and shovels" businesses like American Tower should do well.
Source: Daily Wealth