5 5G Stocks Billionaires Are Loading Up On

In this article, we discuss 5 5G stocks billionaires are loading up on. If you want to see more stocks in this selection, check out 10 5G Stocks Billionaires Are Loading Up On. 

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 69

Number of Billionaire Investors: 15

QUALCOMM Incorporated (NASDAQ:QCOM) is a leading technology company that specializes in the development and commercialization of advanced wireless technologies, including 5G. Qualcomm has made significant advancements in mmWave technology, which is a crucial component of 5G networks. It also designs and manufactures 5G modem chips that power a wide range of devices, including smartphones, tablets, laptops, and IoT devices. Apart from mmWave, Qualcomm also focuses on the Sub-6 GHz spectrum for 5G. In the first quarter of 2023, 15 billionaires were long QUALCOMM Incorporated (NASDAQ:QCOM), including David Shaw of D E Shaw. 

On April 12, QUALCOMM Incorporated (NASDAQ:QCOM declared a quarterly dividend per share of $0.80. The dividend is payable on June 22, to shareholders of record on June 1. 

According to Insider Monkey’s first quarter database, 69 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM, compared to 82 funds in the earlier quarter. 

Madison Sustainable Equity Fund made the following comment about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q1 2023 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) stock was volatile during the quarter but moved higher in March. Qualcomm fundamentals have been hurt over the last several quarters due to excess smartphone inventories. Management messaged in their recent conference call that inventory issues peaked in their first fiscal quarter and should begin to moderate. They are also seeing excess inventory in their IoT (Internet of Things) business, which will take a couple of quarters to work through. By our estimates, Qualcomm fundamentals should trough in the June quarter with a second-half recovery. Qualcomm remains well positioned to diversify away from smartphones with long-term growth in Auto and IoT.”

4. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 89

Number of Billionaire Investors: 15

T-Mobile US, Inc. (NASDAQ:TMUS), a major telecommunications company, has made significant strides in expanding its 5G network coverage across the United States. The company has utilized low-band spectrum to achieve broad coverage in both urban and rural areas. Alongside its low-band and mid-band deployments, T-Mobile US, Inc. (NASDAQ:TMUS) has been actively rolling out mmWave technology in select urban areas. In the March quarter, 15 billionaires held shares of T-Mobile US, Inc. (NASDAQ:TMUS) in their portfolios. 

On May 19, Tigress Financial increased its price target on T-Mobile US, Inc. (NASDAQ:TMUS) to $204, up from $202, while maintaining a Buy rating on the shares, noting that T-Mobile US, Inc. (NASDAQ:TMUS)’s “industry-leading” 5G network, with its high-speed capabilities, is expected to drive continued customer growth and improved profitability. 

According to Insider Monkey’s first quarter database, 89 hedge funds were bullish on T-Mobile US, Inc. (NASDAQ:TMUS), compared to 94 funds in the preceding quarter. Billionaire Warren Buffett’s Berkshire Hathaway held the largest stake in the company, consisting of 5.2 million shares worth $759.25 million. 

In its Q4 2021 investor letter, ClearBridge Investments shared its stance on T-Mobile US, Inc. (NASDAQ:TMUS):

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”

3. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 62

Number of Billionaire Investors: 17

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor company that specializes in the development and deployment of advanced technologies, including solutions for 5G connectivity. Marvell Technology, Inc. (NASDAQ:MRVL) offers baseband processors, digital front-end solutions, Ethernet switches, and PHY transceivers. These products enable high-speed data transfer, low-latency communication, and efficient network processing, supporting the backbone of 5G networks. It is one of the top 5G stocks on the radar of billionaires as of the March quarter. 

On May 26, Needham analyst N. Quinn Bolton raised the firm’s price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $65 from $50 and reiterated a Buy rating on the shares. This follows Marvell’s Q1 earnings beat and positive guidance. Although the company’s results slightly exceeded expectations, the standout highlight was its success in the AI sector. Furthermore, Needham emphasized that Marvell Technology, Inc. (NASDAQ:MRVL)’s opportunity in cloud-optimized ASICs (Application-Specific Integrated Circuits) has significantly increased, with around 50% of the opportunity now being AI-related, up from the previous estimate of about 20%.

According to Insider Monkey’s first quarter database, 62 hedge funds were bullish on Marvell Technology, Inc. (NASDAQ:MRVL), compared to 58 funds in the prior quarter. Billionaire Chris Rokos’ Rokos Capital Management is a significant stakeholder of the company, with a position worth $29 million. 

Carillon Tower Advisors made the following comment about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2022 investor letter:

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors are concerned about the semiconductor cycle and how demand for Marvell’s products will fare in a slowing economic environment. We remain confident that the company’s portfolio of products is highly important in parts of the datacenter server market and note that the company recently has secured strong wins with large technology companies to use its products. The company also benefits from 5G wireless infrastructure build-outs that remain on pace and are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post healthy growth in 2023.”

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 91

Number of Billionaire Investors: 19

Advanced Micro Devices, Inc. (NASDAQ:AMD) primarily focuses on the design and development of high-performance computing and graphics solutions. While AMD does not directly manufacture 5G networking equipment, its technology plays a significant role in supporting the overall 5G ecosystem. With their high-performance capabilities and advanced security features, Advanced Micro Devices, Inc. (NASDAQ:AMD) processors contribute to the efficient and reliable operation of cloud-based 5G services. In the first quarter of 2023, 19 billionaires were bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD), including Philippe Laffont of Coatue Management. Laffont held 8.5 million shares of the company worth $833.7 million. 

On May 31, Bank of America increased its price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $135 from $120, while maintaining a Neutral rating on the shares. The higher price target is attributed to a rising sector multiple. However, BofA pointed out potential challenges in AMD’s x86 total addressable market and noted that AMD’s data center GPU portfolio is still in the “early stages.” These factors contribute to BofA’s decision to maintain a Neutral rating on the shares.

According to Insider Monkey’s first quarter database, 91 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 97 funds in the prior quarter. 

Baron Opportunity Fund made the following comment about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2022 investor letter:

“During the quarter, we added to our position in Advanced Micro Devices, Inc. (NASDAQ:AMD), a global fabless semiconductor company focusing on high performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers. While the company is seeing weakness in its PC business in the short term, we continue to believe AMD will be one of the lead beneficiaries of growing data center infrastructure spending driven by expanded use cases for AI and cloud computing across its product portfolio. AMD’s largest share gain opportunity is in its data-center-server CPUs, which continue to take share from incumbent Intel given a superior total cost of ownership proposition driven by better performance per watt of energy consumption across many computing workloads. We also believe Xilinx, a recent acquisition, offers AMD diversification opportunities through which it can benefit from the broader proliferation of semiconductors into all aspects of the industrial and consumer economies.”

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

Number of Billionaire Investors: 22

While NVIDIA Corporation (NASDAQ:NVDA)’s primary focus is not on providing 5G networking equipment, its technologies and products play a significant role in supporting the 5G ecosystem in several ways. NVIDIA Corporation (NASDAQ:NVDA)’s GPU acceleration empowers advanced computations, data processing, and machine learning algorithms, boosting the performance and intelligence of 5G networks. Additionally, NVIDIA’s data center solutions, featuring robust GPUs and data processing capabilities, play a crucial role in meeting the computational demands of 5G networks. In Q1 2023, NVIDIA Corporation (NASDAQ:NVDA) was part of 22 billionaire portfolios. 

On May 31, BofA analyst Vivek Arya raised the price target on NVIDIA Corporation (NASDAQ:NVDA) to $500 from $450 while maintaining a Buy rating on the shares. This decision follows Nvidia CEO’s keynote speech at the Computex annual computer expo in Taiwan. According to the analyst, key product announcements made at the event, including the full volume production of H100/HGX H100 servers, the unveiling of the new DGX GH200 AI supercomputer, and the introduction of the Spectrum-X networking platform focused on Ethernet-based AI cloud environments, further strengthen Nvidia’s position in the AI market. 

According to Insider Monkey’s first quarter database, 132 hedge funds were bullish on NVIDIA Corporation (NASDAQ:NVDA), up from 106 funds in the prior quarter. Billionaire Rajiv Jain’s GQG Partners held a prominent stake in the company, comprising 8.2 million shares worth $2.3 billion. 

Alger Spectra Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is a leading supplier of graphics processing units (GPUs) for a variety of end markets, such as gaming, PCs, data centers, virtual reality and high-performance computing. The company is leading in most secular growth categories in computing, and especially artificial intelligence and super-computing parallel processing techniques for solving complex computational problems. Simply put. Nvidia’s computational power is a critical enabler of Al and therefore critical to Al adoption, in our view. As such, we believe Nvidia is a long-term high unit volume growth opportunity. During the period, NVIDIA reported fiscal fourth-quarter results that met expectations, as the company navigated. through an inventory correction associated with the broad macroeconomic slowdown. Moreover, management gave fiscal year earnings guidance that was better than analyst estimates. noting strong year-over-year growth in gaming and data centers. Management’s constructive assessment of 2023 prospects. coupled with the rapid rollout and adoption of generative Al offerings, led to positive share price performance.”

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