Supplement to the
Telecommunications Portfolio
Class A, Class M, Class C and Class I
April 29, 2017
As Revised July 28, 2017
Summary Prospectus

Effective October 1, 2017, the following replaces similar information found in the “Fund Summary” section under the “Fee Table” heading.

You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity^® funds. More information about these and other discounts is available from your investment professional and in the Fund Distribution section beginning on page 25 of the prospectus. Different intermediaries may provide additional waivers or reductions of the sales charge. Please see “Sales Charge Waiver Policies Applied by Certain Intermediaries” in the “Appendix” section of the prospectus.

ATLC-SUM-17-02
1.9880366.102 September 30, 2017