No doubt about it, the international telecom sector has been hot lately -- particularly the wireless variety. Stock in China Mobile
Mexico's America Movil
It's easy to see why the stock has grown so dramatically. Spun out of TelMex
At the time of the spinoff, wireless penetration in Latin America was only 13%. While it stands at more than 55% now, many developed countries support penetration rates of more than 80%. One example is the U.S., where, despite a mature market, operators AT&T
I've already chimed in that I think China Mobile, while a great company, is not a great stock at its current valuation of roughly 34 times earnings. In fact, many international telecoms are getting too expensive. But America Movil trades at a much lower 24 times earnings. While America Movil looked much better in the mid-$50s last month, I think the company is still a worthy consideration for investors looking to tap the growth of emerging wireless markets.