5 5G Stocks Billionaires Are Loading Up On

In this article, we discuss 5 5G stocks billionaires are loading up on. If you want to see more stocks in this selection, check out 10 5G Stocks Billionaires Are Loading Up On. 

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 69

Number of Billionaire Investors: 15

QUALCOMM Incorporated (NASDAQ:QCOM) is a leading technology company that specializes in the development and commercialization of advanced wireless technologies, including 5G. Qualcomm has made significant advancements in mmWave technology, which is a crucial component of 5G networks. It also designs and manufactures 5G modem chips that power a wide range of devices, including smartphones, tablets, laptops, and IoT devices. Apart from mmWave, Qualcomm also focuses on the Sub-6 GHz spectrum for 5G. In the first quarter of 2023, 15 billionaires were long QUALCOMM Incorporated (NASDAQ:QCOM), including David Shaw of D E Shaw. 

On April 12, QUALCOMM Incorporated (NASDAQ:QCOM declared a quarterly dividend per share of $0.80. The dividend is payable on June 22, to shareholders of record on June 1. 

According to Insider Monkey’s first quarter database, 69 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM, compared to 82 funds in the earlier quarter. 

Madison Sustainable Equity Fund made the following comment about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q1 2023 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) stock was volatile during the quarter but moved higher in March. Qualcomm fundamentals have been hurt over the last several quarters due to excess smartphone inventories. Management messaged in their recent conference call that inventory issues peaked in their first fiscal quarter and should begin to moderate. They are also seeing excess inventory in their IoT (Internet of Things) business, which will take a couple of quarters to work through. By our estimates, Qualcomm fundamentals should trough in the June quarter with a second-half recovery. Qualcomm remains well positioned to diversify away from smartphones with long-term growth in Auto and IoT.”