5 Best 5G Stocks to Buy Now

2. QUALCOMM Incorporated (NASDAQ: QCOM)

Number of Hedge Fund Holders: 85

Qualcomm is one of the best 5G stocks to buy now. The company offers various products for the 5G infrastructure. Its Qualcomm Snapdragon 5G Mobile platforms offer modem-to-antenna system solution for 5G multimode devices. According to data by IPlytics Platform, the company is a leader in the 5G patent/patent family classifications. In March, Piper Sandler analyst Harsh Kumar upgraded QCOM stock to Overweight from Neutral, citing attractive valuation, the company’s dominance in the IoT and RF markets. The analyst set a price target of $160 for the stock.

Matrix Capital Management currently owns 4 million shares of QCOM, worth $609.97 million. QCOM occupies 0.16% of Matrix Capital’s overall equity.

Alger Spectra Fund, in their Q4 2020 investor letter, mentioned QUALCOMM Incorporated (NASDAQ: QCOM). Here is what Alger Spectra Fund has to say about QUALCOMM Incorporated in their Q4 2020 investor letter:

“Qualcomm is a leading semiconductor company with strong positions in telecommunications end markets that position the company as a primary beneficiary of the innovative 5G network standard rollout. Qualcomm is commonly acknowledged as having the best technology specs for 5Gchipsets as evidenced by signing up all 75 major original equipment manufacturers of telephone handsets including Apple. Additionally, beyond handsets, Qualcomm is positioned to generate growth from automobile manufacturers, the Internet of Things, gaming and other markets.

The shares contributed to performance because Qualcomm’s earnings beat expectations in the face of coronavirus driven declines in the broad handset market. Importantly, the market is improving as the magnitude of handset declines is diminishing sequentially. Qualcomm’s fundamentals are benefitting from a faster-than-expected shift to the 5G standard. As such, the company’s 5G guidance exceeded expectations.”