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4 5G Stocks to Buy in October By StockNews

4 5G Stocks to Buy in October © Reuters. 4 5G Stocks to Buy in October

The ongoing digital transformation of almost all industries and the heightened need for better network performance are driving the 5G market’s growth. That’s why we think quality 5G players Qualcomm (NASDAQ:QCOM), Nokia (NYSE:NOK), Qorvo (NASDAQ:QRVO), and Ciena (NYSE:CIEN) should deliver solid returns in the near term. Let’s discuss.The continuing digital transformation of almost all industries and heightened demand for efficient cloud-based services have been boosting demand for 5G technology. With the increasing demand for higher bandwidth, lower latency, quicker download speed, and network slicing, 5G technology is gaining importance.

The global 5G technology market is expected to grow at an 82.4% CAGR to$248.46 billion by 2028. The increasing demand for improved network performance and reliability should drive the growth of the 5G technology market. Fifth generation technology is expected to play a key role worldwide in creating smart cities.

Therefore, we think fundamentally sound 5G stocks Qualcomm Incorporated (QCOM), Nokia Corporation (NOK), Qorvo, Inc. (QRVO), and Ciena Corporation (CIEN) could be ideal bets now.

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