Global 5G infrastructure spending is expected to exceed $19 billion this year, up 39 percent from $13.7 billion in 2020. The increasing spending will be aided by the global deployment of 5G enabled devices. One-third of worldwide smartphone volumes are now using 5G networks. Communications service providers in North America, according to Gartner, are one of the greatest beneficiaries. T-Mobile US, Verizon Communications, and Micron Technology are among the best 5G stocks to purchase right now, according to hedge funds.
Here is Insider Monkey’s list of the 11 best 5G stocks to buy according to hedge funds. LM Ericsson is a communications infrastructure and related services provider established in Sweden. It is ranked eleventh on the list of the top 11 hedge fund-backed 5G stocks to purchase. Hedge funds rated Nokia Corporation eighth on the list of the best 11 5G stocks to purchase. Mobile and stationary network solutions are offered by the company. Cowen boosted its price target to $8 and upgraded Nokia Corporation’s stock to Outperform from Market Perform. Teradyne, Inc. ranks ninth among the 11 top 5G companies to purchase according to hedge funds on the list. The company manufactures and sells automated testing equipment. Broadcom is the eighth best 5G stock to purchase according to hedge funds on our list of the 11 best 5G stocks to buy. Broadcom Inc. received a Buy rating from Truist, with a price objective of $564 up from $554. Marvell Technology, Inc. is ranked seventh among hedge funds’ top 11 best 5G stocks to purchase. Needham kept its Buy rating on the stock and boosted the price target from $69.00 to $75.00. For more details, click 11 Best 5G Stocks To Buy According To Hedge Funds.