4 Stocks To Watch As Shift To 5G Looks Set To Accelerate

4 Stocks to Watch Out For

5G technology looks set to drive the next leg of growth in connectivity, owing to its faster data speeds and low latency. This makes it a good time to keep an eye on names that can benefit from this shift to 5G, going forward. Notably, we have selected four such stocks that carry a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). 

Apple Inc. AAPL designs manufactures and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. Notably, the company launched its iPhone 12 line up in October 2020, which support 5G networks. It currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings increased 11.5% over the past 60 days. The company’s expected earnings growth rate for the current year is 36.3%.

QUALCOMM Incorporated (QCOM - Free Report) engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products. Notably, the company offers Snapdragon 5G Mobile Platforms which feature a comprehensive modem-to-antenna system solution for 5G devices. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 2% over the past 60 days. The company’s expected earnings growth rate for the current year is 71.6%.

T-Mobile US, Inc. TMUS, through its subsidiaries, provides wireless services for branded postpaid and prepaid, and wholesale customers in the United States, Puerto Rico, and the United States Virgin Islands. Notably, the company merged with Sprint to create the United States’ largest 5G network. Currently, it covers over 8,300 cities and towns in America. The company presently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 4.9% over the past 60 days. The company’s expected earnings growth rate for the current year is 17%.

Verizon Communications Inc. VZ offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Notably, the company is offering its 5G Ultra Wideband network and 5G Nationwide network to deliver 5G connectivity services. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 0.8% over the past 60 days. The company’s expected earnings growth rate for next quarter is 7.6%.

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