Top 5G stocks to explore as high-speed internet transforms businesses

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Top 5G stocks to explore as high-speed internet transforms businesses

 Top 5G stocks to explore as high-speed internet transforms businesses
Image source: iQoncept,Shutterstock

Highlights

  • AT&T Inc. (NYSE: T) reported a net income of US$44 billion in Q2, 2021.
  • Verizon Communications Inc (NYSE: VZ) reported a net income of US$5.9 billion or US$1.40 per share in Q2.
  • Broadcom Inc (Nasdaq: AVGO) posted a gross profit of US$4 billion in Q2.

The 5G companies offer fifth-generation wireless networks and devices. These networks provide effective and high-speed internet services, helping transform many industries, including media and entertainment.

Here we explore the top five 5G stocks drawing investors’ attention.

QUALCOMM Incorporated (Nasdaq: QCOM)

The stock of QCOM traded at US$144.93 at 11.33 am ET on August 24, up 0.54 percent over the August 23 closing price. Its stock price fell by 4.84 percent YTD.

The market capitalization of this 5G technology company is US$163 billion. The P/E ratio is 18.13 and the forward P/E one year is 19.94. The EPS is US$8, and the annual dividend is US$2.72.

The company had total revenue of US$8 billion in Q2 this year against US$4.8 billion in Q2, 2020. The gross profit for the period was US$4.6 billion compared to US$2.8 billion in Q2, 2020. The net income of the wireless network company was US$2 billion in Q2, 2021, against US$845 million in Q2 last year.

Also read: GameStop (GME) stock gains over nine-fold this year as bull run continues

Broadcom Inc (Nasdaq: AVGO)

The AVGO stock traded at US$481.94 at 3.45 pm ET on August 24, down 0.28 percent over the August 23 closing price. Its stock prices went up by 13.34 percent YTD.

The 5G technology company reported revenue of US$6.6 billion in the second quarter of 2021 against US$5.7 billion in Q2 last year. The gross profit of AVGO was US$4 billion compared to US$3.1 billion in Q2 last year. In addition, the semiconductor company reported a net income of US$1.4 billion against US$563 million in Q2 last year.

The market capitalization of AVGO is US$197 billion. The P/E ratio is 44.88 and the forward P/E one year is 20.05. The EPS is US$10.73, and the annual dividend is US$14.40.

Source: Pixabay.

Verizon Communications Inc (NYSE: VZ)

The stock of VZ traded at US$55.095 at 11.46 am ET on August 24, down 0.58 percent over the August 23 closing price. Its stock prices went down by 6.15 percent YTD.

The market capitalization of VZ is US$228 billion. The P/E ratio is 11.42 and the forward P/E one year is 10.44. The EPS is US$4.83,  and the annual dividend is US$2.51.

The telecommunication services company reported total revenue of US$33.8 billion in Q2 this year. The net income was US$5.9 billion or US$1.40 per share. The EBITDA was US$12.2 billion. The company also announced that it had increased 5G phone adoption in the second quarter of 2021.

AT&T Inc. (NYSE: T)

The stock of T traded at US$27.455 at 11.55 am ET on August 24, 0.24 percent down over the August 23 closing price. Its stock prices went down by 4.63 percent YTD.

The wireless telecommunication services company reported revenue of US$44 billion in Q2, 2021, against US$40 billion in Q2 last year. The gross profit of the 5G technology company was US$22.9 billion, the same as in Q2 last year. The net income of T in Q2, 2021, was US$1.5 billion compared to US$1.2 billion in Q2 the previous year.

The market capitalization of T is US$195 billion. The forward P/E one year is 8.29. The EPS is US$0.31, and the annual dividend is US$2.08.

Also read: Which are the top communication stocks on NYSE, NASDAQ?

T-Mobile US, Inc. (Nasdaq: TMUS)

The stock of TMUS traded at US$142.89 at 12.05 am ET on August 24, up 0.23 percent over the August 23 closing price. Its stock prices surged 5.86 percent YTD.

The wireless telecommunication services company had revenue of US$19.9 billion in Q2, 2021, compared to US$17.6 billion in Q2 last year. The gross profit of TMUS was US$11.3 billion against US$10.9 billion in Q2 last year.

The market capitalization of TMUS is US$178 billion. The P/E ratio is 44.77, and the forward P/E one year is 59.15. The EPS is US$3.12.

Bottom line:

The 5G network is considered the future of the internet. The 5G companies have been growing at a rapid pace. Analysts expect these companies to maintain their momentum in the coming quarters. The growth of these companies underscores the demand for high-speed connectivity in the markets.

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