Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) is the top communications company by market cap, followed by Meta Platforms (NASDAQ:META) and Tencent (OTC:TCEHY). This is a valuable market sector, mainly due to a few of the largest communications companies at the very top.
Largest companies
Largest companies by market cap in the communications sector
(Editor's note: Rankings are as of Sept. 3, 2025.)
| Name and ticker | Market cap | Current price | Industry |
|---|---|---|---|
| Alphabet (NASDAQ:GOOG) | $2.9 trillion | $245.61 | Interactive Media and Services |
| Meta Platforms (NASDAQ:META) | $1.8 trillion | $717.89 | Interactive Media and Services |
| Tencent (OTC:TCEHY) | $773 billion | $85.77 | Interactive Media and Services |
| Netflix (NASDAQ:NFLX) | $509 billion | $1,171.49 | Entertainment |
| T-Mobile US (NASDAQ:TMUS) | $269 billion | $233.57 | Wireless Telecommunication Services |
| Walt Disney (NYSE:DIS) | $206 billion | $112.97 | Entertainment |
| AT&T (NYSE:T) | $202 billion | $27.55 | Diversified Telecommunication Services |
| Verizon Communications (NYSE:VZ) | $185 billion | $43.84 | Diversified Telecommunication Services |
| Deutsche Telekom Ag (OTC:DTEGF) | $164 billion | $34.33 | Diversified Telecommunication Services |
Companies 1 - 3
1. Alphabet
5Market cap: $2.56 trillion (as of Sept. 3)
- Revenue (TTM): $371.4 billion
- Gross profit (TTM): $218.9 billion
- Five-year annualized return: 21.04%
- Year founded: 1998 (Google), 2015 (Alphabet)
TTM = trailing 12 months.
Alphabet is the parent company of Google, the world's most widely used search engine. Other products and services offered through Google include its Chrome web browser, Gmail, the Pixel line of smartphones, and artificial intelligence (AI) assistant Gemini. Alphabet owns several other major companies, including YouTube, Waymo, Waze, Nest, and Fitbit.
In 2024, a judge ruled that Google's search business is an illegal monopoly. In September 2025, another judge ruled against the harshest penalties proposed by the U.S. Department of Justice, including breaking up Google through the sale of Chrome or Android. Google can also still pay partners to preload its search engine onto their products, but it can no longer demand exclusivity as part of those deals.
2. Meta Platforms
- Market cap: $1.85 trillion (as of Sept. 3)
- Revenue (TTM): $178.8 billion
- Gross profit (TTM): $146.5 billion
- Five-year annualized return: 20.48%
- Year founded: 2004
Meta Platforms aims to connect people through technology. It's the parent company of Facebook, Instagram, Messenger, and WhatsApp, and it develops virtual reality (VR) and augmented reality (AR) devices, including the Meta Quest.
Originally known as Facebook, the company rebranded to Meta Platforms in 2021. Since then, it has invested in building the metaverse and has made a heavy push into AI technology. It plans to use AI to automate ad creation and is helping to develop AI-powered military products. Meta also launched an AI superintelligence unit, Meta Superintelligence Labs, in June 2025.
3. Tencent
- Market cap: $705.53 billion (as of Sept. 3)
- Revenue (TTM): $98.6 billion*
- Gross profit (TTM): $53.9 billion*
- Five-year annualized return: 4.73%
- Year founded: 1998
*Converted from Chinese yuan.
Tencent is a holding company that focuses on internet and technology services. It's the largest publicly traded company in China and one of the world's largest video game companies, a position it has bolstered this year with major investments in Ubisoft Entertainment (OTC:UBSFY) and Lighthouse Games.
This company offers multiple instant messaging apps, including WeChat. It also operates a film production company, a video streaming service, music ventures, and quite a few other products and services. On a negative note, Sony (NYSE:SONY) sued Tencent for copyright infringement in July 2025, alleging that the Chinese company cloned one of Sony's games.
Companies 4 - 6
4. Netflix
- Market cap: $515.91 billion (as of Sept. 3)
- Revenue (TTM): $41.7 billion
- Gross profit (TTM): $20.2 billion
- Five-year annualized return: 18.22%
- Year founded: 1997
With more than 300 million subscribers, Netflix is the world's most popular streaming service. It started as a mail-based DVD rental service before launching its streaming service in 2007. Netflix boasts a massive content library of movies, TV shows, and games, with more than half of its content in the U.S. being Netflix Originals.
In 2024, Netflix began a push toward live sports. It streamed the boxing match between Mike Tyson and Jake Paul, which Netflix claims was the most-streamed sporting event ever, and aired multiple NFL games.
5. T-Mobile US
Market cap: $287.98 billion (as of Sept. 3)
- Revenue (TTM): $84.1 billion
- Gross profit (TTM): $53.5 billion
- Five-year annualized return: 18.07%
- Year founded: 1994
T-Mobile is the second-largest wireless company in the U.S. by number of subscribers. It had almost 133 million customers as of the second quarter of 2025. It bolstered that number by more than 4 million in August 2025, when it acquired UScellular for $4.3 billion.
The bulk of T-Mobile's business comes from its postpaid and prepaid wireless plans, but it also offers home internet service and even online banking services. To enhance its home internet, it completed the acquisition of fiber-to-the-home provider Lumos earlier this year.
6. China Mobile
- Market cap: $263.37 billion* (as of Sept. 3)
- Revenue (TTM): $145.7 billion*
- Gross profit (TTM): $85.2 billion*
- Five-year annualized return: 10.09%
- Year founded: 1997
*Converted from Chinese yuan.
China Mobile is a state-owned telecommunications company in China. It's the largest wireless carrier in China and the world, with more than 1 billion customers as of the second quarter of 2025.
The company's links to the Chinese government have led to U.S. sanctions. The New York Stock Exchange delisted China Mobile in 2021, and the Federal Communications Commission (FCC) designated China Mobile's U.S. subsidiary a national security threat in 2022.
Companies 7 - 10
7. Walt Disney
- Market cap: $212.64 billion (as of Sept. 3)
- Revenue (TTM): $94.5 billion
- Gross profit (TTM): $35.6 billion
- Five-year annualized return: -2.03%
- Year founded: 1923
Walt Disney is one of the world's most iconic media and entertainment companies. Its entertainment division includes film production, multiple streaming services, and TV channels. The experiences division has theme parks, resorts, cruises, and vacation packages. Disney also has a sports division led by ESPN.
Disney will undergo a leadership change when current CEO Bob Iger's contract expires at the end of 2026. The company plans to name a successor early in 2026.
8. AT&T
- Market cap: $207.93 billion (as of Sept. 3)
- Revenue (TTM): $124.0 billion
- Gross profit (TTM): $74.0 billion
- Five-year annualized return: 12.22%
- Year founded: 1983
With 118 million subscribers as of the second quarter of 2025, AT&T is the third-largest U.S. wireless carrier. It offers postpaid and prepaid wireless plans, home internet, and phone and device sales.
AT&T has streamlined its services in recent years. The wireless company used to own DirecTV but spun that off into a new company in 2021. It also previously owned WarnerMedia, which it sold in 2021.
9. Verizon Communications
- Market cap: $184.67 billion (as of Sept. 3)
- Revenue (TTM): $137.0 billion
- Gross profit (TTM): $81.3 billion
- Five-year annualized return: -0.63%
- Year founded: 1983
While it's not the largest by market cap, Verizon Communications is the No. 1 U.S. wireless carrier in terms of subscribers -- 146 million as of the second quarter of 2025. Like other major wireless companies, Verizon also offers home internet service.
10. Deutsche Telekom
- Market cap: $173.49 billion (as of Sept. 3)
- Revenue (TTM): $136.6 billion*
- Gross profit (TTM): $83.7 billion*
- Five-year annualized return: 18.95%
- Year founded: 1995
*Converted from euros.
Deutsche Telekom is a German telecommunications company. It's partially state-owned, with the German government holding a direct stake. Deutsche Telekom has more than a dozen subsidiaries, including T-Mobile.
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Key takeaways
Communications sector takeaways for investors
The communications sector comprises a diverse range of companies, but they can be divided into two primary groups: telecommunications and information technology (IT). Those who want to invest in this sector could start by narrowing down the type of communications company they're interested in.
Wireless companies are common at the top of this market sector. They make up half of the 10 largest communications services companies. Although they sometimes underperform the overall stock market, these companies are often good dividend stocks. Another point in their favor is that import tariffs don't affect their businesses as much as other types of companies.
IT companies, on the other hand, tend to be growth stocks. Alphabet and Meta are two notable examples, with each having experienced rapid growth. But advertising is a big revenue driver for many of these companies, including Alphabet and Meta. They could see their bottom lines affected by the Trump administration's tariffs if businesses cut back on ad spending to protect their bottom line.
That could lead to short-term turbulence, but the best communications companies will be able to adjust. Whether you choose telecommunications companies, information technology companies, or both, there are valuable investment opportunities among the best communications stocks.
