5 Best 5G Stocks To Invest In Right Now

Page 1 of 5

In this article, we discuss the 5 best 5G stocks to invest in right now. If you want to read our detailed analysis of these stocks, go directly to the 12 Best 5G Stocks To Invest In Right Now.

5. NVIDIA Corporation (NASDAQ: NVDA)

Number of Hedge Fund Holders: 80

Ranking 5th on the list of 12 best 5G stocks to invest in right now is NVIDIA Corporation (NASDAQ: NVDA). The company was founded in 1993 and operates in over 27 countries. 

In June 2021, NVIDIA Corporation (NASDAQ: NVDA) announced its partnership with Alphabet Inc.’s (NASDAQ: GOOGL) Google Cloud. The collaboration is set to establish the first AI-on-5G Innovation Lab for industry players and partners to develop solutions that support advanced 5G and AI applications.

This August, Rosenblatt analyst Hans Mosesmann raised his price target on shares of NVIDIA Corporation (NASDAQ: NVDA) to $250 per share from $200 per share and kept his Buy rating on the stock. Mosesmann believes the stock will remain strong even if the ARM Limited acquisition deal fails.

In the first quarter of 2021, NVIDIA Corporation (NASDAQ: NVDA) reported an EPS of $3.66, beating estimates by $2.84. The company’s first-quarter revenue came in at $5.66 billion, up 84% year-over-year and beating estimates by $252.24 million. Shares of NVIDIA Corporation (NASDAQ: NVDA) gained 83% in the last twelve months and 52% year-to-date.

By the end of the first quarter of 2021, 80 hedge funds out of the 866 tracked by Insider Monkey held stakes in NVIDIA Corporation (NASDAQ: NVDA) worth roughly $6.20 billion. This is compared to 88 hedge funds in the previous quarter with a total stake value of approximately $8.69 billion.

Vulcan Value Partners mentioned NVIDIA Corporation (NASDAQ: NVDA) in its Q2 2021 investor letter:

NVIDIA Corp. was a material contributor during the quarter. NVIDIA’s products are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. The company continues to execute well, and its value continues to compound rapidly.” 

Page 1 of 5