With everything from once-high-flying software companies to behemoths such as Alphabet Inc. mired in losses this year, investors looking to make money in technology-related stocks have found a surprising winner — T-Mobile US Inc.
The mobile-phone carrier has jumped 26% and is flirting with an all-time high. It’s the only tech, media or telecommunications stock among the Nasdaq 100 Index’s best performers, other than Activision Blizzard Inc., the video-game company that’s being acquired.
Fast-growing tech companies with high valuations have been hit by higher interest rates, while a slowing economy has weighed on advertising-dependent internet businesses. But T-Mobile has been surpassing estimates for new subscribers this year, helped by its cut-rate mobile phone plans.
