Oppenheimer’s Timothy Horan this morning asserted in a research note that “we are in the midst of a cyclical slowdown in consumer communications that reflects the convergence of increased supply with slowing consumer demand.” Horan thinks the environment will “worsen noticeably” in the second half, “coinciding with a land grab for high-value customers in the wireline and wireless industries.” His advice is to avoid consumer-focused communications stocks for the intermediate term, and to look for cheaper bets.

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