Sectors: Telecommunications
The ASX-traded FANG ETF tracks the NYSE FANG+ Index, providing concentrated exposure to 10 of the world’s leading technology and growth companies across AI, semiconductors, cloud computing and digital platforms. Unlike the broader NDQ, FANG is roughly equal-weighted and far more concentrated, while avoiding the leverage embedded in LNAS; with around A$1.65bn in assets and a 0.35% management fee, it offers a relatively low-cost way to gain more targeted exposure to the global mega-cap technology trade. Currently, its largest holdings are Palantir (12.7%), Microsoft (12.3%), Amazon (10.3%), Apple (9.9%), Netflix (9.9%), and NVIDIA (9.6%).
ABB -6.53%: delivered a mildly softer than hoped FY26 result this morning, with underlying earnings (EBITDA) slightly ahead of expectations but revenue and profit softer, while a weaker start to FY27 in wholesale connections took some gloss off the update.
TPG +7.39%: delivered a mixed 1H26 result, with revenue and underlying profit below expectations but importantly reaffirming FY26 guidance.
Do you like TLS At 4.74 after report?. Is ASX Limited a short around $64?. What do you see stopping CWY Deal getting done at 3.13?. Will ppt get sold for 22.50? David C
TLS -3.2%: delivered a broadly solid FY26 result, with underlying earnings growth, another dividend increase and a further A$1 billion buyback. However, shares traded on the back of softer-than-expected FY27 cash EBIT guidance and some emerging weakness in postpaid mobile momentum.
TPG has really disappointed since COVID, although things aren’t as bad as they look at a glance, following the sale of TPG’s fibre assets to Vocus for $5.25 billion, which led to one of the largest capital management initiatives seen on the ASX in recent years, with approximately $3 billion returned to shareholders through a capital return and special dividend, in the process shoring up the company’s balance sheet.
Although ABB’s H1 FY26 was a mixed bag in February, covered here, the underlying growth narrative remains in play. Aussie Broadband’s core business remains the resale of NBN services, with management targeting further market share gains and an ambition to become Australia’s third-largest NBN provider by the end of 2026. ABB grew NBN market share by 20 basis points in Q1 FY26, adding around 16,000 subscribers, while strategically holding headline prices flat to protect volume.
In the coming months, a test of $4.70 wouldn’t surprise us, ~8% lower, but the risk/reward is unattractive despite its ~4% fully franked yield. We see no reason to buy TLS in the face of the uncertainty being created by SpaceX.
A quick look at the MSCI ACWI Diversified Telecommunication Services Total Return Index, which tracks global telco and communications stocks, shows a sector sitting around 10% below its recent highs — hardly unusual in the context of today’s market volatility. Local heavyweight Telstra (ASX: TLS) has danced to a similar tune, correcting 8.6% from its May high.
