Communications Networks & Equipment

Own the operators and equipment suppliers that carry traffic across broadband, mobile and optical networks, rather than another semiconductor or cloud-compute basket. The weaker technology tape offers an opportunity to diversify toward connectivity infrastructure, where recurring service revenue complements equipment demand. Carrier spending cycles and competition remain the principal risks. Launch basket (equal weight): CSCO, CIEN, GLW, T, VZ, AAOI, NOK, TMUS Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.