Published on 24 Mar 2023 on Insider Monkey via Yahoo Finance
13 Best 5G Stocks To Buy Now
In this article, we discuss 13 best 5G stocks to buy now. If you want to see more stocks in this selection, check out 5 Best 5G Stocks To Buy Now.
5G players are experiencing remarkable success all over the world amid strong growth catalysts. In January 2023, Nokia Oyj (NYSE:NOK) exceeded its expected operating profit for the latest quarter and predicted increased sales in 2023. The Finnish telecommunications giant stated that it was able to increase its market share by taking advantage of the 5G deployment in nations like India. In addition, Nokia Oyj (NYSE:NOK) was able to broaden its range of customers beyond network service providers to industrial clients who established their own private 5G networks at locations such as power plants, utilities, and mines, among other places. However, Ericsson announced lower than anticipated core earnings for the fourth quarter and predicted a continued decline in margins in its Networks division during the first half of 2023. The company attributed this to weak sales of 5G equipment in markets such as the United States.
Moreover, AWS, the provider of computing and data storage services owned by Amazon.com, Inc. (NASDAQ:AMZN), has partnered with phone companies such as T-Mobile US, Inc. (NASDAQ:TMUS) and Deutsche Telekom AG to offer exclusive wireless services to businesses. The company aims to promote advanced wireless networks as an alternative to Wi-Fi in office and work environments, and has teamed up with other partners including KDDI Corp. in Japan, Orange SA in France, and Telefonica SA in Spain. The private network sector is one of AWS's main areas of focus for expanding its cloud services and boosting revenue, as the business is responsible for most of Amazon.com, Inc. (NASDAQ:AMZN)’s profits, although sales growth slowed down last year. According to Jan Hofmeyr, an executive at AWS, the faster 5G wireless networks can now provide companies with improved in-house connectivity. Although Wi-Fi is adequate for current uses, it has certain limitations that can be overcome with 5G's precise location, low latency, and increased bandwidth, which are particularly useful for advanced applications such as autonomous robots in manufacturing.