A drumline performs at the Electronic Arts EA Play event at E3 in Los Angeles, California.
The introduction of the communications services sector may give investors a good entry point for a number of popular stocks as Wall Street looks to clean up its classifications.
A deluge of rebalancing should drive investor money toward household names like Verizon, Alphabet, The Walt Disney Company and Electronic Arts, according to J.P. Morgan equity strategist Dubravko Lakos-Bujas.
"The key change is the reclassification of Telecom Services as Communication Services sector," Lakos-Bujas wrote Monday. "Sector reclassification on its own can trigger significant rebalancing in quant portfolios even if the stocks' fundamentals are unchanged."
