5 Best 5G Stocks to Buy Now

1. Apple Inc. (NASDAQ:AAPL)

Market Cap as of August 8: $2.653 trillion

Apple Inc. (NASDAQ:AAPL) is one of the Big Five firms in the US IT industry. It is one of the most valuable companies in the world and the first one to hit a trillion-dollar market cap. Apple Inc. (NASDAQ:AAPL) is among the first companies to introduce 5G technology in its devices.

Apple Inc. (NASDAQ:AAPL) reported an EPS of $1.20 in Q2 reports, beating the estimates by $0.05. The revenue of $82.9 billion was in line with the estimates. The gross margins were recorded at 43.3%. Furthermore, the free cash flow of the company remained healthy through the quarter at $20.79 billion and an FCF margin of 25.1%. At the end of the quarter, Apple Inc. (NASDAQ:AAPL) reported cash and cash equivalents of $28.86 billion with an inventory of $5.43 billion in the quarter. 

On July 29, Morgan Stanley analyst Erik Woodring said that Apple Inc. (NASDAQ:AAPL)’s Q2 results were “better than feared” as supply constraints for Mac and iPad and a decline in wearables were covered up by the iPhone and services segments. Woodring considers Apple Inc. (NASDAQ:AAPL) a Top Pick and maintained an Overweight rating on the company’s shares and kept the price target unchanged at $180.

Here is what Wedgewood Partners had to say about Apple Inc. (NASDAQ:AAPL) in its Q2 2022 investor letter:

“Apple grew revenues +9%, driven by +17% growth in the Services segment. While iPhone revenues grew a modest +5%, it was on an exceptional year ago comparison of +66%. iPhone continues to capture most industry smartphone profits by focusing on high-end price tiers. Apple is taking nearly two-thirds of the revenue share in the premium ($400 and above) smartphone segment. Further, most of the growth was driven by expansion in the “ultra-premium” price tier of $1000 or more per unit.[1] As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially integrated circuits) and software continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.

You can also take a look at 10 Stocks To Buy According to William Von Mueffling’s Cantillon Capital Management and 10 Important Energy Stocks Making Moves After Earnings.

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