6G is the sixth generation of mobile phone technology. This technology represents a major advancement over its predecessor, 5G, and offers extremely fast speeds (up to 500 times faster than 5G).
But speed isn’t the only thing that matters: 6G technology will offer near-instant response times and the ability to support billions of connected devices simultaneously.
With these benefits, 6G, expected to become a reality by 2030, will dramatically change the way we do things and our daily lives. In meetings, social media, transportation, and even agriculture, 6G will create more efficient methods.
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The 6G market value is expected to reach about $40.5 billion over the next eight years. The industry was worth about $5.9 billion last year and is expected to grow to $40.5 billion by 2032. In other words, the industry has a lot of potential.
Here are the best 6G stocks to buy in August.
InterDigital (IDCC)
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InterDigital (Nasdaq:IDCC) is a wireless technology company that has been developing digital cellular and wireless products and networks for decades. Now, the company is investing heavily in research to lay the foundation for the transition from 5G to 6G.
InterDigital is one of the best 6G stocks to buy now thanks to its impressive stock price performance over the past two years. At this time in 2022, the stock was trading at around $60 per share. It’s currently at $136, a surge of around 130%. This year alone, the stock has risen 25%.
The latest stock price boost comes on the back of InterDigital’s second-quarter results, which not only raised its full-year 2024 guidance but also beat expectations, reporting increases in revenue, net income and non-GAAP earnings compared to last year’s quarter.
SK Telecom (SKM)
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SK Telecom (New York Stock Exchange:SKM) provides wireless communications and Internet services for mobile phones, wireless data and information and communications solutions. Headquartered in Seoul, South Korea, the company is the largest mobile operator in East Asia, holding more than 50% of the local market share.
In February, SK Telecom Intel (Nasdaq:International Trade Commission) is developing new technologies that will accelerate the arrival of 6G networks and expand our foothold in the race to 6G.
Investors will find out more about the company’s financial health when it reports its second-quarter results on Aug. 6. But based on last quarter’s earnings and analyst valuations, SK Telecom is one of the best 6G stocks to buy this month.
From January to March, the company’s consolidated sales and operating profit increased 2.3% and 0.8%, respectively, compared to the same period last year. Even more impressive was the growth in net profit, which increased 19.6%. AI division sales increased 10%.
Apple (AAPL)
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Last year, Bloomberg apple (Nasdaq:AAPLApple Inc. was looking for engineers to work on 6G technology. One of the job ads from the Silicon Valley-based company was for a cellular platform architect to evaluate and prototype 6G. The iconic technology company has been working on 6G quietly, which is exciting for Apple users and the future of the technology.
For investors looking to bet on 6G, Apple is a sure bet: For starters, it’s one of only six companies in the world with a market capitalization of over $1 trillion, and it’s the first company in the world to reach a market capitalization of $3 trillion.
Moreover, Apple’s stock price has risen 17% so far this year. The company posted revenue of $85.8 billion last quarter, up 5% year over year. Earnings per share were $1.40, up 11% year over year. This shows that Apple’s financial position is strong. For investors looking for only the best 6G stocks on the market, Apple is an ideal choice.
As of the publication date of this article, Hope Muti did not hold (either directly or indirectly) any positions in any of the stocks mentioned in this article. The opinions expressed in this article are solely those of the author, subject to the views of InvestorPlace.com. Publication guidelines.
On the date of publication, the editor in charge did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
Hope Mutie is a passionate finance and cryptocurrency writer. At InvestorPlace, she stays on top of stock and cryptocurrency market trends, creating insightful, informative content to help investors navigate the markets with confidence.
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