10 Best 5G Stocks to Invest in According to Analysts

2. América Móvil SAB de CV (NYSE:AMX)

Average Price Target Upside Potential According to Analysts: 40.20%

Number of Hedge Fund Holders: 8

América Móvil SAB de CV (NYSE:AMX) is a Mexican telecommunications company that is primarily focused on communications, information technology, and digital content. Offering its services across 22 countries in Latin America and Europe, it is one of the world’s largest mobile network operators in the world. América Móvil SAB de CV (NYSE:AMX) has the biggest 5G network in Latin America and it also owns Telcel, a Mexican wireless telecommunications company that offers 5G services. AMX ranks among the best 5G stocks to buy according to analysts.

In the third quarter of 2024, the company attracted 1.8 million subscribers, including 1.4 million postpaid subscribers. Brazil contributed 291 thousand while Colombia added 159 thousand. Additionally, América Móvil SAB de CV (NYSE:AMX) successfully expanded its broadband services by connecting 327,000 new accesses in the quarter.

The company is focused on growing its 5G business. In April 2024, América Móvil SAB de CV (NYSE:AMX) announced that one of the main goals for its $7 billion capital expenditure budget forecast for 2024 was 5G expansion. In October 2024, América Móvil SAB de CV (NYSE:AMX) announced the consolidation of ClaroVTR into its operations in October 2024. This move positions the company as a major telecommunication service provider in Chile by providing integrated services and next-generation offerings through its 5G network. To enhance its competitive edge while also offering better quality and speed to customers, the company aims to continue investing in 5G technology in 2025 across its markets in Latin America.