Shares of T-Mobile (NASDAQ: TMUS) were up 0.9% after the market open on Monday. The move comes on another down day for the broader market, with the Nasdaq Composite Index down almost 1% earlier this morning. Shares of Verizon Communications and AT&T were also trading higher.

Top telecom stocks have outperformed the market year to date, with T-Mobile the only one of the leaders posting a gain, up 19%. Here are a few reasons why T-Mobile could hold up well going into 2023.

Last week, Morgan Stanley analyst Simon Flannery noted that telecom stocks should remain relatively immune from the macroeconomic headwinds. In the second quarter, T-Mobile delivered strong earnings and management raised guidance -- something that is quite rare in 2022. 

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Source Fool.com