The 5G revolution is gaining momentum and investors are searching for the best 5G stocks to buy in March. This next-generation technology is set to revolutionize communications and is up to 100 times faster than 4G.
5G has significantly lower latency, which means it can process more data and take less time to travel between devices. This means smoother streaming, faster downloads, and the possibility of unlocking entirely new applications. Investor interest in 5G technology will skyrocket over the next decade as this emerging technology continues to penetrate global markets.
So let’s take a look at the top three 5G stocks to buy in March 2024.
Qualcomm (QCOM)
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Qualcomm (NASDAQ:QCOM) ranks among the top 5G stocks to buy in March. The semiconductor giant is a leader in his 5G revolution, and in FY24 he will benefit from IoT and AI tailwinds.
Qualcomm’s technology capabilities span a variety of mobile communications standards, including the widely used 4G and 5G networks. The company holds numerous patents for these technologies, as well as CDMA2000, TD-SCDMA, and WCDMA. Additionally, we began our aggressive push into the generative AI market with the release of Snapdragon X Elite.
Qualcomm’s latest quarterly results showed revenue of $9.9 billion, up 5% from a year ago. EPS increased 24% to $2.46 per share. The company continues to see positive signs of recovery in the mobile phone market and continues to make significant investments in generative AI. This includes the release of the company’s AI CPU called Snapdragon X Elite, which is expected to have 2x faster performance. Additionally, his PC market set for mid-2024 allows him to run generative AI models with over 13 billion parameters.
T-Mobile (TMUS)
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T-mobile (NASDAQ:TMUS) is a leading wireless network operator in the United States and ranks as the third largest telecommunications company in the United States. The company recently completed a strong fiscal year 2023, and management has a strong outlook for 2024.
T-Mobile offers a wide range of services to its customers, including cell phone plans with data, voice, and text options. As of December 2023, the company boasts approximately 118 million subscribers and has the largest 5G footprint covering 98% of the American population. Focusing on network connectivity and fast data speeds, it boasts a robust 5G network covered with ultra-high capacity 5G. This resulted in an industry-leading growth of 1.3 million net accounts in 2023.
T-Mobile’s revenue was flat in FY23, but its revenue and FCF increased significantly. Net income increased 221% year over year to $8.3 billion, and adjusted FCF increased 77% to $13.6 billion. Management expects the outlook for 2024 to be strong, with net customers of more than 5 million for him and adjusted EBITDA of $31.9 billion, up from his $31.3 billion. This makes TMUS stock one of the top 5G stocks to buy before it hits new highs in 2024.
Defiance Next Generation Connectivity ETF (FIVG)
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Defiance Next Generation Connectivity ETF (New York Stock Exchange:FIVG) is not a 5G stock, but it is one of the perfect ways to gain exposure to 5G stocks. This is an exchange-traded fund (ETF) aimed at capturing the growth and commercialization of 5G network infrastructure.
The Defiance Next Gen Connectivity ETF invests in a basket of top companies across the 5G ecosystem. This includes a wide range of areas such as carrier equipment, 5G chips, wireless communications, cloud computing, and mobile network operators. FIVG aims to track the BlueStar Global 5G Communications Index, which has 49 US-listed stocks with diversified exposure to 5G technology.
Industry leaders participating in the FIVG ETF include: Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), broadcom (NASDAQ:AVGO), Qualcomm, apple (NASDAQ:AAPL). This ETF may be suitable for investors who want to diversify rather than putting all their eggs in one basket. However, it’s important to know that the ETF has an expense ratio of 0.30%. If you believe in the global rollout of 5G network infrastructure in the long term, you should always keep an eye on his FIGV for March 2024.
On the date of publication, Terrell Miles did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are influenced by InvestorPlace.com. Publishing guidelines.
