The current market is one of extremes. Of extreme love for U.S. stocks in general and U.S. tech stocks in particular. But also of extreme hate for non-U.S. stocks and non-U.S. old-economy stocks in particular.
Those extremes are producing valuation discrepancies which I don’t recall ever seeing, not even in the dotcom bubble years (late 1999, early 2000). This article is an article about one such valuation discrepancy.
Two Telecoms
This discrepancy is happening in two telecom stocks. They look as follows:
- The first telecom is American Tower Corporation REIT (AMT). American Tower