Are These The Best 5G Stocks To Buy Now?
With the era of 5G technology well underway, 5G stocks make for an interesting play in the tech industry today. For the most part, this section of the stock market today is an increasingly relevant and growing one. As more refinements are made to the tech, the competition amongst the top names continues to ramp up. Accordingly, this would leave investors with no shortage of top 5G stocks to buy today.
For instance, we could take a look at the likes of T-Mobile (NASDAQ: TMUS). It is a leading name in the U.S. telecommunications industry today. Through its massive network, the company is among the largest 5G service providers in the region. Notably, T-Mobile has and continues to serve as a key player in bolstering general adoption of 5G tech among consumers. Just this week, the company revealed that customers will see a “5G UC” icon on their smartphones when in regions with T-Mobile’s fastest wireless network speeds. Not to mention, the company is also looking to offer phone repair services at 500 of its retail stores later this year.
At the same time, tech companies are increasingly turning to 5G when it comes to building their next-gen devices. Earlier this week, Apple (NASDAQ: AAPL) unveiled its latest iPhone lineup. The likes of which come with custom 5G antennas and radio components, promising faster wireless network speeds. While things appear to be speeding up in the 5G space, I could see investors being eager to jump on these trends. Should you be one of them, here are three making airwaves in the stock market now.
Top 5G Stocks To Buy [Or Sell] This Month
- AT&T Inc. (NYSE: T)
- Qualcomm Inc. (NASDAQ: QCOM)
- Verizon Communications Inc. (NYSE: VZ)
AT&T Inc.
First up, we have AT&T. If anything, most would be familiar with this telecom giant. For the uninitiated, the Texas-based company is the largest provider of mobile telephone services in the U.S. Through its vast 5G network, AT&T provides crucial services for consumers and businesses across the U.S. Additionally, the company is also building FirstNet, a nationwide network that caters specifically to first responders and public safety officials. As such, AT&T could be a go-to for consumers, organizations, and investors alike in the market today.
While all this is great, AT&T is not resting on its laurels just yet. Just yesterday, the company provided two notable updates on the operational front. For starters, AT&T is teaming up with Overland-Tandberg, a global provider of tech products and services. Through this partnership, the duo are looking to bring data management equipment and tech services to over 20 local community organizations across the U.S. All of this will be in the form of an AT&T Connected Learning Center (CLC). With CLCs, the duo hope to bridge the digital divide for underserved communities, further bolstering general access to AT&T’s network.
Secondly, AT&T is also partnering with the U.S. Naval Postgraduate School. With this agreement, the duo will explore and develop 5G and edge computing-based maritime solutions. The likes of which will, ideally, benefit the national defense, homeland security, and other related industries. Overall, it seems like AT&T continues to find new ways to grow and expand its reach and operations. Would this make T stock a top buy for you now?
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Qualcomm Inc.
Another name to consider in the 5G stock trade today would be Qualcomm. In brief, it is an industry leader in the global 5G market now. Qualcomm develops and manufactures semiconductors that are used in countless 5G devices worldwide. In its portfolio, the company holds patents that set industry standards in 5G and 4G tech among others. Given Qualcomm’s current standing amongst its peers, I could see investors eyeing QCOM stock now.
For one thing, demand for Qualcomm’s services has and continues to spike in the market now. This would be the case seeing as more businesses and the general public turn to tech amidst the current pandemic. Since its pandemic era low, QCOM stock is already looking at gains of over 120%. Regardless, Qualcomm continues to make bold plays to bolster its current offerings. As of earlier this week, the company is working with GlobalFoundries, a major New York-based semiconductor manufacturer.
Namely, Qualcomm is extending its successful radio frequency (RF) collaboration with GlobalFoundries. This will include the delivery of advanced 5G RF Front-End products. The likes of which include the introduction of higher cellular speeds, superior coverage, and outstanding power efficiency in Qualcomm’s chips. In practice, all of this will serve to significantly upgrade the next-gen 5G-enabled products. With this current play in mind, will you be adding QCOM stock to your portfolio soon?
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Verizon Communications Inc.
Following that, we will be taking a look at Verizon Communications. In essence, the company is another player in the telecom industry today. By Verizon’s estimates, it currently caters to over 120 million subscribers via its vast array of wireless network services. This ranges from its 5G and 4G mobile carrier offerings to Internet-of-Things and Managed Security solutions. Now, while VZ stock has mostly been trading sideways over the past week, would it be worth investing in now?
Despite its current stock movement, Verizon appears to be kicking into high gear to keep up with the competition. Just last week, the company expanded its 5G coverage in a variety of ways towards additional U.S. cities. Now, its 5G Ultra Wideband is available in 82 cities while its 5G Home internet service is available in 57 cities. CTO Kyle Malady had this to say, “Our continued investment in 5G Ultra Wideband means that more people than ever can experience unmatched speed on phones and a home broadband alternative that is transforming the market.” Malady also noted that Verizon is planning to keep up its current momentum by extending its current push for coverage in the long term.
On the financial front, the company continues to perform as well. In its latest fiscal quarter report posted back in July, Verizon reported solid figures. This is evident as it reported total revenue of $33.76 billion for the quarter, a sizable 10% year-over-year increase. Moreover, the company also saw jumps of over 23% in both its net income and earnings per share over that time. All things considered, would you say VZ stock is worth investing in now?
