Top three 5G stocks to explore

Summary

• Nokia Corporation (NYSE:NOK) revised its guidance upward for an entire year on July 29.
• QUALCOMM (NASDAQ:QCOM)declared a quarterly dividend of US$0.68 per share.
• Verizon Communications (NYSE:VZ)announced the expansion of its 5G business in 42 US cities.

In the times of many digital devices connected through the internet, highly efficient and powerful wireless has become a necessity. In this regard, the fifth-generation wireless technology or 5G offers hope with its super-high-speed network.

The telecommunication and technology companies have been investing in the 5G technology to take full advantage of their products at a time when connecting and networking have become the key to growth.

The 5G companies provide 5G devices, chips (hardware), 5G applications (software), and wireless networks, among many other related services.  This segment has grown with the mounting demand for the Internet of Things (IoT) and wireless data speed.

Here we discuss three hot 5G stocks in the market.

Nokia Corporation (NYSE:NOK) announced on July 13 to revise its outlook for fiscal 2021. The company is expected to provide details of its second quarter and six-month financial performance with upward revised guidance for an entire year on July 29.

Nokia is engaged in providing telecommunication equipment and communication service. It earns its revenue from selling wireless, fixed-line hardware, software, and services.

Its net sales for March quarter, 2021 grew 3% year-over-year to be EUR 5,076 million with a gross margin of 38.2% compared to 36.4% in the previous year quarter. Nokia’s profit was EUR 375 million, a 1036% up, compared to EUR 33 million in Q1, 2020.  

The stock is trading at US$ 5.68, down 2.68% from the previous close on July 15, 2021, at 9:38, am ET.

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Source: Pixabay.

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QUALCOMM Incorporated (NASDAQ:QCOM), one of the leading 5G technology companies, on July 14, declared a quarterly dividend of US$0.68 per share. It also licenses wireless technology and design and sells smartphone chips. 

QCOM’s total revenue for the quarter ended March 28, 2021, was US$ 7.9 billion, and net income was US$ 1.8 billion, reflecting a 28% and 276% increase, respectively, YOY. 

Its stock is trading at US$143.29, down 0.32% as of July 15, 2021, at 9:54, am ET.

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Verizon Communications Inc. (NYSE:VZ) announced on July 15 that it expanded its 5G business in 42 cities in the United States, up from 24 declared earlier this year.

Verizon provides various technology, entertainment, and communication products and services.

In the March quarter of 2021, it logged revenue of US$ 32.87 billion and net income of US$5.25 billion, up 4% and 25%, respectively YOY.  

The stock is trading at US$56.36 at 10:24 am ET on July 15, up 0.07% from the previous close. 

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.