This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, and that firm merged with Sprint in 2020, creating the second-largest wireless carrier in the US. T-Mobile now serves about 87 million postpaid and 26 million prepaid phone customers, equal to around 30% of the US retail wireless market. The firm entered the fixed-wireless broadband market aggressively in 2021 and now serves around 9 million residential and business customers with its wireless network. It also serves more than 1 million fiber broadband customers through joint ventures with fiber network owners. T-Mobile owns a stake in these firms, which provide wholesale access to their networks. In addition, T-Mobile provides wholesale services to wireless resellers.

T-Mobile US is a subsidiary of Deutsche Telecom AG. T-Mobile has been part of the Deutsche Telekom Group since 2002 with the German company holding a 52.8% stake. The company is both a fixed wireless and facilities-based wireless provider and is generally considered the top spectrum license holder in the U.S. The company offers national wireless voice and data services to consumers and businesses in postpaid contract plans and simple no-contract service plans. Focused on customer growth and broadband/fiber expansion, the company has been active in acquisitions and improving customer service and pricing options. T-Mobile acquired Sprint in 2020, Mint Mobile in 2024, and UScellular's wireless operations in 2025. The company began 2026 with about 150 million customer accounts (of which 77% were postpaid customers) and just under 9.5 million broadband customer accounts. Revenues in 2025 topped $88.3 billion, with service revenues accounting for over 80% and equipment sales accounting for about 18%. The shares are part of the S&P 500, and TMUS's market cap is about $195 billion.

The major stock indices are generally flat at midday. Individual names, mostly impacted by earnings, are driving the action (with, for example, Amazon up 15% and Apple down 10%). This comes after two days of volatility, with stocks down broadly on Wednesday after the FOMC meeting and broadly higher on Thursday in a mood reversal. Argus' technical analyst, Mark Arbeter, CMT, notes that despite the recent carnage in many semi names and the inconsistent performance of the Mag 7 stocks, the S&P 500 remains in the middle of a three-month trading range, with little if any technical damage. The flat indices performance today closes out a generally flattish week, with the five-day data as of midday leaving the S&P 500 up 0.5%, the DJIA up 0.8%, and the Nasdaq up 0.7%. The 30-year Treasury bond yield spiked to its highest levels since 2007 this week.