5G is the successor of the 4G network that enables the connection of everyone and everything including machines, objects, and devices virtually which is 100 times faster than 4G systems. 5G stocks global economic output is $13.2 trillion dollars providing 22.3 million job opportunities and $2.1 trillion dollars in GDP growth.
Here’s a list of some hottest picks for 5G stocks to buy.
1. Nokia Corporation (NOK)
Nokia is one of the top players of 5G stocks in the current market. The investors were disappointed a few years back but the things are finally getting back and better now.
Nokia is one of the world’s largest mobile equipment suppliers with about 16% of the share market. Bank of America has a target price of $4.80 for NOK stock.
2. Qualcomm (QCOM)
Qualcomm is considered to be the best to benefit among all. It has semiconductor and licensing businesses. The company is a supplier for wireless devices and infrastructure and collects royalties on it.
Qualcomm is one of the most important players in 5G development. It is supposed to sell more 5G chips at higher margin prices in the next several years and has a well-reputed position in revenue and earnings growth.
3. Ciena Corp (CIEN)
CIENA is a networking company that focuses on network and communications infrastructure, mostly optical networking which is the kind of technology that will build the backbone of 5G.
CIEN has been the player in the stock market since 1992 back in the times when optical networking and fibre optic cable were more in concepts than commercial technologies.
4. T-Mobile (TMUS)
TMUS is ultimately believed to be the first wireless carrier to launch a “real 5G nationwide network”. The journey from mobile carrier outsider to no. 2 mobile carriers in the U.S by subscribers, it is still just around half the size by market capital of its main rival Verizon and AT&T.
TMUS even has some streaming agreements with Netflix but it doesn’t get entangled in that business and focuses more on mobile.
According to Bank of America, the target price for TMUS stock is $110.
5. Apple (AAPL)
A leading tech company dedicated to the development of the most used smart devices around the globe. Along with the network providers, companies like Apple will get highly benefited from 5G upgrades. According to analysts, millions of 5G iPhone, Apple Watch, and iPad upgrades expected in the next few years. Bank of America has a target price of $390 for AAPL stock.
6. Marvell Technology Group (MRVL)
MRVL is a top player in the 5G stock market that designs and manufactures integrated circuits for computer infrastructure.
It has been on 5G technology since early 2019, announcing a broad array of solutions at the Mobile World Congress in Barcelona. Its stock is 48% up since last year.