10 Best 5G Stocks to Invest in According to Analysts

1. Rogers Communications Inc. (NYSE:RCI)

Average Price Target Upside Potential According to Analysts: 65.51%

Number of Hedge Fund Holders: 24

Rogers Communications Inc. (NYSE:RCI) is a Canadian communications and media company that is focused on wireless communications, cable television, telephony and internet services. The company has one of the most extensive and advanced high-speed wireless networks in Canada. It was also the first Canadian company to commercially launch a 5G network. Rogers Communications Inc. (NYSE:RCI) offers postpaid and prepaid wireless services under the Rogers, chatr, and Fido brands.

The company is strategically investing in enhancing connectivity, expanding 5G coverage, and improving broadband speeds. In April 2023, the company completed a historic merger with Shaw Communications to combine Canada’s largest 5G network with a coast-to-coast wireline company with fiber-powered internet available to nearly 70% of Canadian households. Rogers Communications Inc. (NYSE:RCI) also announced plans to invest $2.5 billion over the next 5 years to improve 5G in existing communities and expand to 40 new communities in Western Canada.

Additionally, the company aims to invest $3 billion in broadband to provide faster speeds to more than 4.5 million homes from Northern Ontario through to British Columbia. Rogers Communications Inc. (NYSE:RCI) is actively working to connect more low-income Canadians while also making 5G services more affordable. In the third quarter of 2024, the company invested $977 million in capital expenditures to further strengthen and grow its network. During the quarter, Rogers Communications Inc. (NYSE:RCI) added 227,000 net combined mobile phone and internet customers.

Overall, RCI ranks first among the 10 best 5G stocks to invest in according to analysts. While we acknowledge the potential of 5G companies, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RCI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

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