6G is the sixth generation of cellular technology. The tech will be a massive leap forward from 5G, its predecessor, and will have ultra-high speeds (up to 500 times faster than 5G).
But it won’t just be about speed. 6G technology will have near-instantaneous response times and the ability to support billions of connected devices concurrently.
Due to these benefits, 6G, which is expected to be here by 2030, will dramatically change how we do things and our daily lives. Whether it’s meetings, social media, transportation and even agriculture, 6G will create a more efficient way of doing things.
The 6G market value is expected to reach around $40.5 billion in the next eight years. The industry was worth about $5.9 billion last year and is expected to grow to $40.5 billion by 2032. In other words, there’s a ton of promise for this industry.
Here are the best 6G stocks to buy this August.
InterDigital (IDCC)
InterDigital (NASDAQ:IDCC) is a wireless technology company that has been developing digital cellular and wireless products and networks for decades. Currently, the company is laying the groundwork for migration from 5G to 6G by investing heavily in research.
InterDigital is one of the best 6G stocks to buy right now by virtue of its impressive price trajectory over the last two years. At a time like this in 2022, shares exchanged hands at around $60 apiece. Right now, at $136, that’s a surge of nearly 130%. This year alone, the share price has popped 25%.
The latest bump in price is on the back of InterDigital’s second-quarter results. Not only did it raise its full-year guidance for 2024, it beat estimates and registered an increase in revenue and net and non-GAAP income compared to last year’s quarter.
SK Telecom (SKM)
SK Telecom (NYSE:SKM) provides wireless telecommunications and internet services for mobile phones, wireless data, and information communication solutions. The company is headquartered in Seoul, South Korea, and is the largest mobile operator in the East Asian country, with control of over 50% of the local market share.
In Feb, SK Telecom announced a joint deal with Intel (NASDAQ:INTC) to create new technology to speed up the arrival of 6G networks, expanding its footprint in the race to 6G.
Investors will know the company’s financial standing when it releases its second-quarter results on Aug 6. But based on its earnings for last quarter and analyst ratings, SK Telecom is among the best 6G stocks to buy this month.
Between January and March, the company’s consolidated revenue and operating income moved up 2.3% and 0.8%, respectively, compared to the same period a year prior. Even more impressive was its net income performance, which gained 19.6%. Sales from its AI segment increased 10%.
Apple (AAPL)
Last year, Bloomberg reported Apple (NASDAQ:AAPL) was recruiting engineers to work on 6G technology. One job listing from the Silicon Valley-headquartered firm was for a cellular platform architect who’d evaluate 6G and create prototypes. The iconic tech company is quietly working on 6G, which is exciting for Apple product users and the future of the technology.
Investors looking to bet on 6G cannot go wrong with Apple. For starters, it’s one of just six companies worldwide to cross the trillion-dollar market cap. It was also the first company to achieve a $3 trillion valuation worldwide.
In addition, Apple shares have risen 17% year-to-date. It booked $85.8 billion in revenue last quarter — 5% more than the previous year. Earnings per share clocked in at $1.40 — 11% higher than last year. This signals Apple’s solid financial health. It’s an ideal go-to for investors looking for only the best 6G stocks in the market.
On the date of publication, Hope Mutie did not have (either directly or indirectly) any positions in the stocks mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
