In this article, we will take a look at the 5 best 5G stocks to buy according to hedge funds. To see more such companies, go directly to the 15 Best 5G Stocks To Buy According to Hedge Funds.
5. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 91
Broadcom Inc. (NASDAQ:AVGO) is a prominent global semiconductor company specializing in the design, development, and distribution of a wide range of products, including set-top box SoCs, networking equipment, wireless access point SoCs, Ethernet solutions, and RF semiconductor devices. Notably, Broadcom Inc. (NASDAQ:AVGO) secured a significant multiyear, multibillion-dollar agreement with Apple Inc. (NASDAQ:AAPL) this past year, wherein it will develop 5G radio frequency components, including FBAR filters, and advanced wireless connectivity components.
In the fourth quarter, 91 hedge funds were bullish on Broadcom Inc. (NASDAQ:AVGO), compared to 87 funds in the previous quarter, according to Insider Monkey’s database. Among these, Ken Fisher’s Fisher Asset Management emerged as the largest stakeholder of the company, holding 2.13 million shares valued at $2.3 billion.
4. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 120
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a renowned global semiconductor company, operating across various segments including Data Center, Client, Gaming, and Embedded. With operations spanning the globe, AMD is venturing into the telecommunications sector with a focus on 5G and compute innovations. Notably, its EPYC processors are engineered to offer superior performance while minimizing energy consumption.
In a recent update on March 11, analysts from Cantor Fitzgerald reaffirmed an Overweight rating for Advanced Micro Devices, Inc. (NASDAQ:AMD), along with a price target of $190.
As of the fourth quarter’s conclusion, 120 hedge funds had taken long positions on Advanced Micro Devices, Inc. (NASDAQ:AMD), amassing a combined stake valued at $15.2 billion.
Jackson Peak Capital said the following about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its fourth-quarter 2023 investor letter:
“On the long side of the portfolio, a core theme we remain invested behind is the data center infrastructure buildout and AI chips arms race that we’ve discussed since our first letter in Q2. Some skepticism has crept into the market, and it’s understandable given the huge ramp in 2023. However, our research continues to suggest 2023 was the start of a multi-year platform shift. Value will accrue to varying segments of the AI value chain at different parts of the cycle. We continue to see value in the “boots on the ground” winners in the data center buildout (Vertiv, Modine Manufacturing, Celestica). Our positioning in AI semiconductor companies (NVDA and Advanced Micro Devices, Inc. (NASDAQ:AMD)) has ebbed and flowed given we are cognizant (perhaps too much so) that these names are crowded positions across investor style types. We’ve done well in these chip stocks since inception and NVDA is currently a long, and we’re trying to “let winners run” while using sizing to risk manage these names due to the market-wide positioning bias in semiconductors.”
3. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 131
Apple Inc. (NASDAQ:AAPL), a leading consumer electronics company, stands to benefit from the increasing adoption of 5G applications and content. As more users upgrade to iPhones that support 5G, Apple Inc. (NASDAQ:AAPL) is expected to experience growth in its services and software revenue.
On March 5, investment advisory firm Wedbush reiterated an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock, setting a price target of $250.
According to data from Insider Monkey’s database, as of the end of the fourth quarter of 2023, 131 hedge funds held stakes in Apple Inc. (NASDAQ:AAPL), with a total value of $205 billion. This compares to 134 hedge funds in the previous quarter, with stakes totaling $179 billion.
2. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 173
Based in Delaware, NVIDIA Corporation (NASDAQ:NVDA) is a renowned American multinational technology company specializing in integrated circuit development. The company’s AI-on-5G platform is a standout in the 5G sector, comprising NVIDIA-Certified Systems™, converged accelerators, the NVIDIA Aerial™ SDK for software-defined 5G virtual radio area networks (vRANs), and a range of enterprise AI applications and SDKs.
In Q4 2023, NVIDIA Corporation (NASDAQ:NVDA) garnered investments from 173 out of the 933 hedge funds tracked by Insider Monkey. Among these investors, Rajiv Jain’s GQG Partners held the largest stake, with investments totaling $6.8 billion in the company.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Headquartered in Washington, Amazon.com, Inc. (NASDAQ:AMZN) is a company known for its focus on e-commerce, AI, cloud computing, and online advertising, among other areas. Amazon.com, Inc. (NASDAQ:AMZN) provides a range of services and toolkits designed to enable companies to create and deploy 5G services and software. For instance, AWS Private 5G is a managed service offered by Amazon Web Services (AWS) that assists companies in creating and deploying their private mobile networks, with all necessary hardware and software provided by AWS.
According to Insider Monkey’s database, which tracks 933 elite hedge funds, hedge fund sentiment toward Amazon.com, Inc. (NASDAQ:AMZN) was positive in Q4. The number of hedge funds with investments in the stock increased to 293, up from 286 in the previous quarter.
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