In this article, we will take a look at the 10 Best 5G Stocks to Invest in According to Analysts.
The global wireless telecommunications industry made history in 2024 as it attained 2.25 billion 5G connections worldwide. This unprecedented expansion hints at the speed at which 5G will be adopted, surpassing earlier wireless generations by a significant margin. Market experts believe this trend will likely continue, with 8.3 billion 5G connections—or 59% of all wireless technologies worldwide—being predicted by 2029.
According to a GlobalData report, the Internet of Things (IoT) is one market that is set to benefit from these developments. The IoT market is predicted to expand at a 13.5% compound annual growth rate over the five years from 2023 to 2028, with revenue increasing from $959.6 billion to $1.8 trillion. The report states that this growth will be driven by the rise of enterprise applications, as well as improvements in 5G and AI.
North America, where 5G witnessed some of the highest adoption rates in the world, is the region where the technology’s momentum becomes apparent. As of the end of 2024, there were over 182 million 5G connections in the US and Canada combined, representing a growth rate of around 20% year-over-year. While mobile broadband and device upgrades had been the main focus of the first deployments, the breadth has rapidly expanded since then.
With that in mind, we will now look at the 10 best 5G stocks to invest in according to analysts.
Our Methodology
To make our list of the best 5G stocks to invest in according to analysts, we chose and selected stocks based on their upside potential, as of December 10. While 5G technology is the primary focus of most of these stocks, several also include cloud service providers, holding companies with 5G-related subsidiaries, and semiconductor companies that enable 5G ecosystems. We have also mentioned hedge fund sentiments around each stock, based on Insider Monkey’s data for Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. AT&T Inc. (NYSE:T)
Analyst Upside: 7.82%
Number of Hedge Fund Holders: 87
AT&T Inc. (NYSE:T) is on our list of the 10 best 5G stocks to invest in according to analysts. AT&T Inc. (NYSE:T) unveiled its strategic plan on June 10 at the 2025 Mizuho Technology Conference. The company underlined its recent moves in growing its wireless and fiber networks while simultaneously tackling issues in the marketplace.
AT&T Inc. (NYSE:T) disclosed that the $5.75 billion Lumen deal would use a portion of the $10 billion it had set aside for financial flexibility over the next three years. Following the acquisition, the company is on course to keep its leverage ratio at 2.5 times net leverage.
Moreover, aiming for a 60 million home fiber footprint by 2030, the Lumen acquisition adds 500,000 fiber users and 4 million passings. The company is also cutting $6 billion in costs by phasing out copper infrastructure and expanding its 5G network, which covers a larger region than its rivals.
Leading telecommunications firm AT&T Inc. (NYSE:T) provides a wide range of wireless communication services and data solutions to a number of customer groups, including corporations, governmental organizations, wholesale customers, and individual consumers.
9. Advanced Micro Devices Inc. (NASDAQ:AMD)
Analyst Upside: 7.96%
Number of Hedge Fund Holders: 97
Advanced Micro Devices, Inc. (NASDAQ:AMD) is on our list of the 10 best 5G stocks to invest in according to analysts. Following the company’s Advance AI event on June 13, TD Cowen maintained its Buy rating and $115 price target on Advanced Micro Devices, Inc. (NASDAQ:AMD).
AMD’s ROCm 7 software platform, new MI350 series chips, and the company’s first rack-scale solution, the MI400 “Helios,” were also on display during the event. Although the event did not provide any financial details, TD Cowen states that the company is “laying important groundwork to more effectively participate in the AI TAM.”
AMD’s recent acquisition of ZT Systems was also stated to have made it possible for the company to make the strategic move into multigenerational, comprehensive system solutions. The company further showed its dedication to AI software development by making numerous deals to support large-scale cluster workloads and modeling solutions.
A prominent multinational semiconductor company, Advanced Micro Devices, Inc. (NASDAQ:AMD) operates in a number of categories, including embedded, client, gaming, and data center. AMD, with operations all over the world, is also stepping into the telecom industry with an emphasis on 5G and computing advancements.
8. Verizon Communications Inc. (NYSE:VZ)
Analyst Upside: 10.29%
Number of Hedge Fund Holders: 65
Verizon Communications Inc. (NYSE:VZ) is on our list of the 10 best 5G stocks to invest in according to analysts. With a price target of $48 on June 3, Citi analysts maintained their Buy rating for Verizon Communications Inc. (NYSE:VZ). The decision comes after the Verizon model was updated to include new data from the company’s 10-Q filing and subsequent management remarks.
In contrast to earlier predictions of a slowdown, Verizon Communications Inc. (NYSE:VZ) management emphasized an ongoing streak of double-digit consumer gross add growth into May. Price actions from each of the national carriers, higher promotions, and possible value shopping by customers are all factors contributing to the increased activity in the switcher pool, which has resulted in incremental churn.
That said, the analysts’ prediction for net additions and losses is not impacted by these circumstances. The report also pointed out that Verizon Communications Inc. (NYSE:VZ) and a few other market competitors are currently retreating from buyout offers, which have been erratic in the market.
Verizon Communications Inc. (NYSE:VZ) is a leading provider of technology, entertainment, and communication services worldwide. The company offers a range of services through its operational divisions, such as digital TV, high-speed internet, and 5G and 4G wireless connectivity.
7. Broadcom Inc. (NASDAQ:AVGO)
Analyst Upside: 13.09%
Number of Hedge Fund Holders: 158
Broadcom Inc. (NASDAQ:AVGO) is on our list of the 10 best 5G stocks to invest in according to analysts. Bernstein SocGen Group analysts raised their price target for Broadcom Inc. (NASDAQ:AVGO) from $250 to $295 on June 6 while maintaining an Outperform rating on the company’s shares. The update follows Broadcom’s fiscal second-quarter 2025 earnings report, which revealed robust software and chip operations success.
Having reported software revenues of $6.6 billion and semiconductor sales of $8.4 billion, Broadcom’s quarterly earnings of $15 billion were in line with consensus estimates. The company’s artificial intelligence division is expected to keep growing, with sales expected to reach $30 billion in 2026, roughly $4–5 billion more than current consensus estimates.
Despite a strong earnings report, aftermarket trading saw a minor drop in Broadcom’s shares, which was explained by the heightened anticipation before the results release. Analysts pointed out that any persistent decline in the core semiconductor sector is more than offset by the development potential of the AI division.
Broadcom Inc. (NASDAQ:AVGO) is a multinational semiconductor company specializing in the design, development, and distribution of a wide range of products. Notably, Apple and Broadcom Inc. (NASDAQ:AVGO) inked a major multiyear, multibillion-dollar deal in 2023 for the development of 5G radio frequency components, such as FBAR filters, and advanced wireless connectivity components.
6. American Tower Corporation (NYSE:AMT)
Analyst Upside: 13.17%
Number of Hedge Fund Holders: 73
American Tower Corporation (NYSE:AMT) is on our list of the 10 best 5G stocks to invest in according to analysts. On June 11, American Tower Corporation (NYSE:AMT) took part in the Mizuho Technology Conference 2025. The company’s CFO, Rod Smith, facilitated the discussion, which focused on strategic priorities such as financial stability and organic development. Despite its optimism regarding the future of the U.S. and European markets, the company faces obstacles such as Sprint churn and pressure from competitors in private tower prices.
On the other hand, American Tower Corporation (NYSE:AMT) declared its success in bringing its floating rate debt down to 4% of its total debt. In parallel, the company announced that dividend growth would resume this year, with an anticipated 5% rise.
In an effort to meet its long-term growth goal, American Tower Corporation (NYSE:AMT) projects organic growth of about 4.3% this year, with a projected increase to 5% in the years to come. As the final Sprint churn phase concludes in Q3 of 2025, management also anticipates a decrease in churn to the lower end of its average historical range of 1-2%.
Based in Boston, Massachusetts, American Tower Corporation (NYSE:AMT) is a real estate investment trust (REIT) that specializes in data centers and telecommunications. The company, which has over 221,000 properties globally, is essential to the development of fiber-optic networks that link 5G small cell sites to the internet.
5. Crown Castle Inc. (NYSE:CCI)
Analyst Upside: 14.85%
Number of Hedge Fund Holders: 46
Crown Castle Inc. (NYSE:CCI) is on our list of the 10 best 5G stocks to invest in according to analysts. On June 4, Crown Castle Inc. (NYSE:CCI) gave a presentation outlining its strategic goals at the Nareit REITweek: 2025 Investor Conference. At the conference, the company stated its goal to become a pure-play US tower company following a planned divestiture of its fiber and small cell businesses.
In addition to attempting to take advantage of the rising demand for wireless data, this action entails a substantial financial reorganization that includes debt reduction and share repurchases. Additionally, the company presented a plan that aims to increase its tower business’s income by 4.5% by 2025. Moreover, Crown Castle Inc. (NYSE:CCI) will spend $3 billion and $6 billion on share buybacks and debt reduction, respectively, following the divestiture.
Crown Castle Inc. (NYSE:CCI) is a major player in the real estate investment trust (REIT) sector, especially when it comes to 5G, with a sizable portfolio that comprises over 40,000 cell towers.
4. Ciena Corporation (NYSE:CIEN)
Analyst Upside: 15.89%
Number of Hedge Fund Holders: 58
Ciena Corporation (NYSE:CIEN) is on our list of the 10 best 5G stocks to invest in according to analysts. With a Neutral rating, UBS analysts raised their price target for Ciena Corporation (NYSE:CIEN) from $73 to $78 on June 6. As hyperscalers raise their infrastructure investments, the analysts reported that Direct Cloud-related revenue increased by 85% year-over-year, which enabled the company’s revenue grow by 2.86% over the previous 12 months.
Despite encouraging revenue numbers, Ciena’s gross margin of 41% came in below UBS’s forecast of 42.3% and its target of the “low 40s,” owing to the company’s product mix shifting towards pluggables and RLS products. With a projected gross margin of roughly 42% for FY25, this change is expected to continue having an impact on the company’s financials.
Moreover, UBS analysts voiced concerns about the company’s ability to reach long-term goals for gross margin and operating margin, despite Ciena Corporation (NYSE:CIEN) raising its FY25 revenue growth estimates to roughly 14% from the prior 11%, indicating robust demand across its portfolio.
Ciena Corporation (NYSE:CIEN) offers network operators solutions to handle transport, routing, orchestration, and maintenance by delivering a wide range of products and services focused on optical networking, network management, and automation. With its 4G/5G convergent xHaul technology and services, the company is also a leading name in 5G.
3. NVIDIA Corporation (NASDAQ:NVDA)
Analyst Upside: 18.87%
Number of Hedge Fund Holders: 212
NVIDIA Corporation (NASDAQ:NVDA) is on our list of the 10 best 5G stocks to invest in according to analysts. On June 12, UBS maintained its buy rating and $175 price target for NVIDIA Corporation (NASDAQ:NVDA), pointing to the chipmaker’s growing client base and its ability to benefit from significant future expenditures in AI infrastructure.
NVIDIA Corporation (NASDAQ:NVDA) apparently has “line of sight” to nearly $1.5 trillion in AI infrastructure investment over the next several years, according to the research firm. This is in keeping with earlier company statements regarding “tens of gigawatts” of projects within a two- to three-year period.
The firm noted that NVIDIA Corporation (NASDAQ:NVDA) expects to make $40–50 billion for every gigawatt of AI data center capacity, which could translate into datacenter revenue of about $400 billion for the company per year. This anticipated amount roughly doubles UBS’s current forecast of $233 billion for 2026, which the bank says should allay investor fears about short- or medium-term earnings peaks.
NVIDIA Corporation (NASDAQ:NVDA), a world leader in networking and graphics processing, provides GPUs for the AI, gaming, HPC, and other industries. The company’s products span data centers, gaming, professional visualization, and the automotive markets. The company’s AI-on-5G platform is a standout in the 5G sector.
2. T-Mobile US, Inc. (NASDAQ:TMUS)
Analyst Upside: 20.01%
Number of Hedge Fund Holders: 75
T-Mobile US, Inc. (NASDAQ:TMUS) is on our list of the 10 best 5G stocks to invest in according to analysts. On June 3, T-Mobile US, Inc. (NASDAQ:TMUS) revealed new plans with features like T-Mobile Tuesdays and a five-year price guarantee, along with T-Mobile Fiber Home Internet, which was scheduled to formally launch on June 5. T-Mobile Fiber is now accessible to over 500,000 households nationwide following the acquisition of Lumos.
According to the company, T-Mobile Fiber helps meet the growing need for dependable, fast broadband, considering more than a million customers are already waiting for T-Mobile’s well-liked fixed wireless service, T-Mobile 5G Home Internet.
Furthermore, the company’s management announced a $0.88 cash dividend per share on its issued and outstanding common stock on June 6. The dividend is payable on September 11 to shareholders of record as of the close of business on August 29.
Based in Bellevue, Washington, T-Mobile US, Inc. (NYSE:TMUS) is a well-known supplier of wireless telecommunication services. Renowned for its strides in the 5G space, the company has built one of the largest and fastest 5G networks in the US, setting itself up for long-term success.
1. Marvell Technology, Inc. (NASDAQ:MRVL)
Analyst Upside: 29.04%
Number of Hedge Fund Holders: 73
Marvell Technology, Inc. (NASDAQ:MRVL) is on our list of the 10 best 5G stocks to invest in according to analysts. On June 11, Marvell Technology, Inc. (NASDAQ:MRVL) unveiled its unique Ultra Accelerator Link (UALink) scale-up solution, which is intended to improve the interconnectivity of AI accelerators and switches. The company claims that in a single deployment, the customized UALink solution allows scale-up interconnects for hundreds or thousands of AI accelerators.
The announcement comes as growing AI infrastructure while preserving performance becomes a bigger challenge for hyperscalers. Marvell claims that by using an open-standards-based approach that permits direct, low-latency communication between accelerators, its proprietary UALink product solves these issues.
Forrest Norrod, an AMD executive, also endorsed the development, stating:
“We are excited to see UALink custom solutions from Marvell, which are essential to the future of AI.”
Marvell Technology, Inc. (NASDAQ:MRVL) has made a name for itself as a leader in the creation of data processing units (DPUs). In 2021, Marvell Technology, Inc. (NASDAQ:MRVL) made major acquisitions, including Inphi and Innovium, in an attempt to increase its global footprint in important industries including 5G, cloud computing, and other business solutions.
While we acknowledge the potential of MRVL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRVL and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.
Disclosure: None.
