Should Investors Be Watching These Top 5G Stocks This Week?

When it comes to investing in the tech of tomorrow, investors could be looking toward 5G stocks now. If anything, this particular area of the stock market today remains a viable one, especially amidst the current pandemic. After all, 5G is the latest iteration of broadband cellular networks. Be it through smartphones, personal computers, or other pieces of tech, the applications for 5G continue to expand. Likewise, the adoption and coverage of 5G networks globally are growing as well. All of this would be driven by 5G adoption trends across consumer and professional markets now.

On one hand, consumers would see 5G-enabled tech as a benchmark for the next life cycle in the tech world. Take consumer tech giant Apple (NASDAQ: AAPL) for example. With its flagship iPhone product line boasting 5G capabilities, Apple would stand to benefit from the 5G hype now. In its latest quarter fiscal, the company’s total iPhone sales came in at a whopping $39.5 billion for the quarter, marking a 51% year-over-year surge. With Apple gunning for an all-5G iPhone line up in 2022, we could see 5G adoption continue to surge among consumers.

On the other hand, 5G service providers do not appear to be sitting idly by as well. As of last month, telecom giants Ericsson (NASDAQ: ERIC) and Verizon (NYSE: VZ) are collaborating on a landmark 5G project. Namely, the duo is expanding their existing partnership via an $8.3 billion multi-year 5G expansion agreement. Through the current deal, Ericsson will provide its industry-leading 5G solutions, helping Verizon expand its 5G network in the U.S. By and large, investor sentiment for the top 5G stocks in the stock market now could continue to grow. Could one of these companies be your next big investment?

Best 5G Stocks To Watch In August 2021

T-Mobile US Inc.

For starters, we have a leading name in the U.S. mobile broadband market now, T-Mobile. In brief. T-Mobile identifies as “America’s supercharged Un-carrier”. This would be the case as the company continues to deliver advanced 4G LTE and 5G coverage to users across the nation. According to T-Mobile’s estimates, the company remains the largest and fastest 5G network in the U.S. To date, the company’s 5G services cover a whopping 305 million people across 1.7 million square miles. Notably, this would mark more geographic coverage than both its competitors Verizon and AT&T (NYSE: T) combined.

With T-Mobile’s current lead in the 5G race, would TMUS stock be a top 5G stock to watch now? Well, for one thing, the company appears to be further streamlining its services. Essentially, T-Mobile is committing to shut down its subsidiary Sprint’s LTE network by June 30, 2022. This comes as no surprise with T-Mobile actively absorbing Sprint’s operations and customers. Even now, one-third of Sprint’s users are already on T-Mobile’s network. CFO Peter Osvadik also highlights that the company will be reaching out to all customers who require new SIM cards to stay connected to its services. Moreover, there would be no shortage of 5G phones for said customers to choose from across T-Mobile’s current offerings now.

This news comes off the heels of T-Mobile reporting stellar figures across the board in its second-quarter fiscal. The company raked in total revenue of $19.95 billion for the quarter, a sizable 12% year-over-year increase. Additionally, it also posted surges of 789% in net income and 766% in earnings per share over the same time. Given all of this, will you be keeping an eye on TMUS stock moving forward?

5G stocks (TMUS stock)
Source: TD Ameritrade TOS

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Alphabet Inc.

Another name to consider in the 5G industry now would be Alphabet subsidiary, Google. Sure, most would be familiar with the company’s broad array of tech offerings. This ranges from its Google Cloud computing division to its booming ad-tech business. Aside from all this, Google is constantly researching and building on the latest frontiers in tech. In line with our focus today, the company’s 5G-enabled smartphones would be worth noting. For the uninitiated, this would be its Google Pixel product line.

In detail, Google Pixel is Google’s answer to the booming smartphone industry today. Through its smartphone line, Google offers consumers the cleanest version of its smartphone operating system (OS) Android. Together, the two provide a sleek and seamless user experience for consumers today. Earlier this week, senior VP Rick Osterloh revealed that the company’s latest 5G-enabled phones, the Pixel 6 line, will be debuting this fall. That’s not all, Osterloh also announced that this will be Google’s first batch of phones sporting its self-made Tensor System-on-a-Chip processors. The likes of which will be powered by Google’s industry-leading artificial intelligence and machine learning tech. Simply put, all of this serves to provide consumers with a more holistic product than ever before.

Not to mention, recent reports suggest that the company’s current-gen Pixel 5a 5G phone could be arriving soon as well. Some would argue that all of this makes Google a major contender in the 5G market. Overall, with the company seemingly jumping on 5G upgrade tailwinds, could GOOGL stock be a top 5G stock for you now?

top 5G stocks (GOOGL stock)
Source: TD Ameritrade TOS

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Last but not least, we will be taking a look at Nokia. In short, Nokia is a Finnish multinational telecom company. The company also operates in the information tech and consumer electronics markets. Through its global portfolio, Nokia serves as a trusted partner for critical telecommunication networks today. As a pioneering name in the telecom industry, I could see investors eyeing NOK stock in the stock market now. In fact, the company’s shares are already looking at year-to-date gains of over 60%.

For the most part, the company appears to be hard at work expanding its 5G portfolio now. Over the past month, Nokia is reportedly doing so in the U.S., Canada, and China. Firstly, the company won its first 5G radio contract in China on July 19 with China Mobile. This is a crucial win for Nokia in the Chinese 5G market seeing as it is one out of three existing 5G contracts available locally. Secondly, the company is actively working with Export Development Canada (EDC), an international financial risk assessment firm. Through this partnership, EDC will be providing financing and insurance solutions to Nokia’s global customers. According to Nokia, the move will further optimize its operations in the region. Third, the company is also working with Empire Access to expand its fiber network in Binghamton, New York.

Recently, HMD Global, which is the exclusive licensee of the Nokia brand for phones and tablets, released the Nokia XR20. Briefly, it is a ‘military grade’ smartphone, boasting 5G capabilities and high durability. All in all, Nokia seems to be firing on all cylinders across its 5G-focused portfolio now. Would this make NOK stock a top watch for you this week?

NOK stock
Source: TD Ameritrade TOS

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