© Reuters. 2 stocks to buy because 5G is becoming common
Growing demand from multiple technology fields for increased speed and better connectivity amid a rapid global digital transformation has fueled the growth of 5G technology. And as the rollout of 5G accelerates, we believe Qorvo, Inc. (NASDAQ 🙂 and Cirrus Logic (NASDAQ 🙂 are now solid bets. Let’s discuss these names.The increasing adoption of 5G technology in several technological fields, such as cloud computing, Internet of Things (IoT), artificial intelligence (AI), virtual reality (VR) and reality Increased (AR) have driven the demand for 5G solutions around the world. Currently, the sector enjoys favorable investor sentiment, as evidenced by the 67.8% returns of the Vanguard Communication Services ETF (VOX) over the past year, compared to the 52.4% gains of the S&P. 500 during this period.
With the increased speed and connectivity offered by 5G, companies are investing more and more in the development of basic 5G services. In addition, with consumers spending more time at home, a substantial increase in the use of phones and other connected devices is also expected to lead to increased demand for 5G products. The global 5G technology market is expected to grow at a CAGR of 70.8% over the next four years to reach $ 700 billion by 2025.
As the adoption of 5G technology is rapidly gaining ground, we think it might be wise to bet now on Qorvo, Inc. (QRVO) and Cirrus Logic, Inc. (CRUS) as they are well positioned to capitalize on the trend.
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