5 Best 5G Stocks To Buy Now

In this article, we discuss 5 best 5G stocks to buy now. If you want to see more stocks in this selection, click 12 Best 5G Stocks To Buy Now. 

5. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 55

AT&T Inc. (NYSE:T), an American provider of telecommunications, media, and technology services, is one of the best 5G stocks to invest in. On October 20, AT&T Inc. (NYSE:T) reported a Q3 non-GAAP EPS of $0.68 and a revenue of $30 billion, outperforming Wall Street estimates by $0.07 and $140 million, respectively. 

On October 24, Raymond James analyst Frank Louthan upgraded AT&T Inc. (NYSE:T) to Strong Buy from Outperform with an unchanged price target of $24. The analyst believes that AT&T Inc. (NYSE:T) will outpace Verizon over the next few months based on the current operating performance of the two businesses. 

According to the second quarter database of Insider Monkey, 55 hedge funds were bullish on AT&T Inc. (NYSE:T) and D E Shaw held the biggest position in the company, comprising 11.4 million shares worth nearly $240 million. 

Here is what Chartwell Investment Partners has to say about AT&T Inc. (NYSE:T) in its Q2 2022 investor letter:

“In the Dividend Equity accounts, the three best performers in Q2 include AT&T (NYSE:T, 2.5%), up 17.1%. AT&T completed the spin off of the WarnerMedia business (HBO, CNN, etc.), and the market seemed to like the “back-to-basics” approach. Also, the telco business is expected to do relatively well in an inflationary environment.”

4. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 63

Marvell Technology, Inc. (NASDAQ:MRVL) is a Delaware-based company that designs, develops, and sells analog, mixed-signal, digital signal processing, embedded, and standalone integrated circuits. The company provides end-to-end optimized 5G platforms and related 5G solutions. 

On October 18, investment advisory Deutsche Bank maintained a Buy recommendation on Marvell Technology, Inc. (NASDAQ:MRVL) but lowered the firm’s price target on the shares to $55 from $65. Analyst Ross Seymore issued the ratings update. 

According to Insider Monkey’s data, Marvell Technology, Inc. (NASDAQ:MRVL) was part of 63 hedge fund portfolios at the end of June 2022, with combined stakes worth $1.6 billion. Paul Marshall and Ian Wace’s Marshall Wace LLP is the leading position holder in the company, with approximately 5 million shares valued at $214 million. 

Here is what Carillon Tower Advisers specifically said about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q2 2022 investor letter:

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors have recently become concerned about the semiconductor cycle and how demand for Marvell’s products will fare in a slowing economic environment. We remain confident that the company’s portfolio of products is extremely important in parts of the datacenter server market, which remains healthy and possesses long-term secular trends. The company also has secured strong contract wins in upcoming global 5G wireless infrastructure build-outs, which are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post continued robust growth.”

3. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 71

QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based company that engages in the commercialization of foundational technologies for the wireless industry worldwide. The company develops integrated circuits and system software based on 3G/4G/5G technologies for use in wireless voice and data communications, application processing, multimedia, and global positioning system products. QUALCOMM Incorporated (NASDAQ:QCOM) is one of the best 5G stocks to monitor. 

On November 3, Baird analyst Tristan Gerra maintained an Outperform rating on QUALCOMM Incorporated (NASDAQ:QCOM) but lowered the price target on the shares to $150 from $250. The analyst said the fundamentals remain intact despite large inventory adjustments in smartphones, which will affect both the December and March quarters.

According to Insider Monkey’s data, 71 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM) at the end of June 2022, compared to 73 funds in the last quarter. Alkeon Capital Management is the leading stakeholder of the company, with 4.2 million shares worth $541.15 million. 

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and QUALCOMM Incorporated (NASDAQ:QCOM) was one of them. Here is what the fund said:

“Market strength continued in the fourth quarter, with only the communication services sector down in the Russell 1000 Value Index. Portfolio returns benefited from the strong performance of semiconductor maker QUALCOMM Incorporated (NASDAQ:QCOM), which has executed exceptionally well in pursuing the transition to 5G, growing both content and share due to its leadership position in cellular technology. The chipmaker recently outlined a number of peripheral growth opportunities outside of mobile markets, including automotive (where it hopes to leverage its strong presence in the automotive infotainment space into advanced driver assistance systems), Internet of Things (including opportunities in the PC market, VR/AR market, and factory automation) and radio frequency (where mmWave adoption globally, including China, would drive substantial upside).”

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company. The company also powers 5G network technology. UBS analyst Timothy Arcuri on November 14 upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) to Buy from Neutral with a price target of $95, up from $75. The analyst anticipates “some replenishment” moving through FY23, noting that compute hardware “typically out-performs off the bottom”.

According to the second quarter database of Insider Monkey, 87 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 83 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the leading position holder in the company, with more than 25 million shares worth $2 billion. 

Here is what Baron Opportunity Fund has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2022 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global fabless semiconductor company focusing on high-performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers.

AMD has been gaining meaningful share in personal computing and server end markets over the past several years driven by the performance of its processors and technology and strong execution against its technology roadmap, and we believe share gains will continue over the coming years from a combination of AMD’s continued advancements and Intel’s stumbles in developing its leading-edge technology.

Additionally, the recently closed acquisitions of Xilinx and Pensando enhance AMD’s positioning within the data center, a key growth engine for the semiconductor industry, and Xilinx specifically opens up several new growth opportunities in new end markets like industrial, automotive, and communications. The company also generates significant cash flow, giving it capital allocation optionality for further M&A and returning capital to shareholders.”

1. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 96

T-Mobile US, Inc. (NASDAQ:TMUS) is a Washington-based company that provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. T-Mobile US, Inc. (NASDAQ:TMUS) is one of the best 5G stocks to monitor. On November 10, T-Mobile US, Inc. (NASDAQ:TMUS) announced that it has expanded its 5G Home Internet offering in 70 markets in Illinois, Michigan, and Wisconsin, reaching millions of new customers in the Midwest.

On October 28, Cowen analyst Paul Gallant raised the price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $201 from $187 and kept an Outperform rating on the shares. The analyst noted that the company announced robust Q3 results, driven by industry-leading phone adds, good churn upside, FWA adds upside margins, and a guidance raise.

According to Insider Monkey’s data, 96 hedge funds were bullish on T-Mobile US, Inc. (NASDAQ:TMUS) at the end of Q2 2022, compared to 91 funds in the prior quarter. Andreas Halvorsen’s Viking Global is the largest position holder in the company, with 9.17 million shares worth $1.2 billion. 

In its Q4 2021 investor letter, ClearBridge Investments shared its stance on T-Mobile US, Inc. (NASDAQ:TMUS):

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”

You can also take a look at Best Depressed Stocks To Buy and 15 Biggest Mexican Companies in 2022. 

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