7. American Tower Corporation (NYSE:AMT)
American Tower Corporation (NYSE:AMT) ranks among the best 5G stocks to buy right now. On May 19, Bernstein boosted American Tower Corporation (NYSE:AMT) to Outperform with a $207 price target based on long-term 5G/data center demand and diminishing rate sensitivity. The firm said that investor concerns about satellite competition, increased interest rates, and Dish Network risks were becoming exaggerated.
Bernstein emphasized American Tower’s portfolio of about 149,000 towers in developed economies, citing its consistent cash flows, long-term leases, and steady growth outlook. The firm stated that the company continues to bring in approximately 5% AFFO growth even after factoring in Dish-related activity, foreign exchange constraints, and refinancing expenses.
Given the constraints on capacity, indoor coverage, and network performance in crowded urban markets, Bernstein contended that satellite-based wireless services are unlikely to fully replace conventional infrastructure. Rather, analysts predict that further ground deployments or collaborations with mobile network providers will be necessary to ensure future satellite services.
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.
6. QUALCOMM Incorporated (NASDAQ:QCOM)
QUALCOMM Incorporated (NASDAQ:QCOM) ranks among the best 5G stocks to buy right now. On June 9, SLB announced an agreement with QUALCOMM Incorporated (NASDAQ:QCOM) to collaborate on cutting-edge AI solutions for energy industry operations. The collaboration brings together Qualcomm Technologies’ power-efficient edge computing and AI processing tools with SLB’s Agora edge AI and IoT services for remote energy scenarios.
Furthermore, Bloomberg reported on May 26 that QUALCOMM Incorporated (NASDAQ:QCOM) has landed an agreement to deliver AI chips to ByteDance. ByteDance plans to buy millions of Qualcomm’s application-specific integrated circuits to power the company’s AI agent software.
The agreement represents a major win for QUALCOMM Incorporated (NASDAQ:QCOM) as it seeks to move beyond phone processors towards AI infrastructure.
Cristiano Amon, the company’s CEO, previously stated that customers are starting to line up for the company’s chips. He referred to “engagement” with many businesses during a post-earnings conference call in April, though he did not name any potential clients.
QUALCOMM Incorporated (NASDAQ:QCOM) is a leading manufacturer and supplier of core technologies for the wireless sector, with a product line that includes processors that enable 5G. The company has benefited from the rise in smartphones since the early 2000s by focusing on the technology behind 3G and 4G networks.
While we acknowledge the potential of QCOM 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 QCOM and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see the 5 Best 5G Stocks to Buy Right Now.
Disclosure: None. Follow Insider Monkey on Google News.
