These 5G Stocks Are Set To Benefit In The Hyperconnected Space; Here’s Why Investors Might Want To Jump Into This Emergent Technology
We have been talking about how tech stocks have been revolutionizing the way we live. Now, it’s time to talk about the specifics. The 5G revolution is here, and that means it’s time to look at 5G stocks. We’ve been hearing about the new 5G technology for years and how it is going to revolutionize our lives. The 5G industry, notably, hasn’t only weathered the pandemic. In fact, top 5G stocks are proving to take the hit better than others.
There is a great attention on the 5G space. Mobile network providers are rolling out their iterations of new services. Some mobile makers such as Apple (AAPL Stock Report) will also be releasing their new phones with 5G connectivity in it. The new technology is not just going to massively elevate the speed and reduce latency. In fact, that is just the tip of the iceberg. From autonomous driving, smart surveillance, to the internet of things, there are multiple areas where 5G can help bring our current technologies into their next stages.
Of course, the deployment of 5G technology is still in its early phases. And a lot of development has yet to materialize as more telecom companies and mobile makers roll it out to more markets across the world. According to Allied Market Research, the 5G market is projected to reach $667.9 billion by 2026 from $5.53 billion in 2020. As the industry enters the most substantial advancements in the mobile internet since its inception, investors are also very excited and have been putting a list of top 5G stocks to buy. That said, are the following top 5G stocks on your watchlist?
Read More
- Looking For The Best Tech Stocks To Buy Before Friday? 3 Names To Know
- Top 5 Things To Know In The Stock Market This Week
- Are These The Best Stocks To Buy Right Now Amid Rising Security Concerns?
Top 5G Stocks To Buy In 2020 & Beyond: Skyworks Solutions
Skywork Solutions (SWKS Stock Report) is one of the best 5G stocks to buy in the market right now. The company reported solid quarterly earnings on July 23 that crushed analysts’ estimates. Analysts believe that the second half of 2020 should turn out nicely for the company. From its quarterly report, the company is well positioned to benefit from upcoming launches of 5G-enabled smartphones.
The company’s largest customer, Apple, is likely to be the key catalyst for SWKS stock moving forward. This came as most Apple fans are waiting to finally upgrade to the latest iPhone with 5G technology. This is after Apple has been in the shadows of Huawei and Samsung when it comes to 5G launches.
However, the iPhones are reportedly being delayed until late October due to supply chain holdups related to the pandemic. But ultimately, Skyworks looks to reap the benefits of the robust sales of the latest iPhones as Apple begins producing new handsets ahead of the launch.
[Read More] Looking For Gold Mining Stocks To Buy? 2 To Know This Month
Top 5G Stocks To Buy In 2020 & Beyond: Qualcomm
Qualcomm (QCOM Stock Report) reported its fiscal third quarter last week. The company beat Wall Street’s estimates by $100 million with a total revenue of $4.89 billion. From the fiscal report, Qualcomm also provided guidance for its next quarter with a prime focus on the global deployment of 5G. We don’t need an expert to tell us that the Huawei deal is huge.
Huawei agreed to a new settlement agreement that includes a $1.8 billion payment to catch up from amounts not paid starting over 3 years ago. The Chinese smartphone manufacturer had made interim payments of $600 million in FY18 and $450 million in FY19. The total royalty amount for the 13 quarters equates to $2.85 billion during the period in doubt.
And now that Bernstein has also upgraded its rating for QCOM stock, the stock is gaining significant momentum and has erased its pandemic losses. Now that the stock is almost 26% higher year to date, could this rally continue to climb into next week?
