Amid a global pandemic, there’s also a revolution going on: a 5G stock revolution. These stocks have long intrigued investors, as it’s a trillion-dollar industry that’s only forecasted to get better in 2020. And tech companies are the ones that will see a significant upside because of it.
Here are three 5G stocks trading up on April 17. We’ll also take a look at two other contenders.
5G Stocks to Watch: Axcelis Technologies, Inc. (NASDAQ:ACLS)
Axcelis Technologies, Inc. is an American manufacturing company that manufactures and services capital equipment for the global semiconductor manufacturing industry.
While a small-cap company, Axcelis is a crucial figure in the 5G market, helped by the success of its ion implantation chips. These chips allow devices that run on 5G to have their data processed at an accelerated speed.
On April 17, as of 3:18 p.m. EDT, ACLS stock is up 2.34% at $21.42.
Since Axcelis surpassed its Q3 earnings estimates, many analysts have been following the company’s movement. And it was worth it: ACLS has continued to impress. On April 14, Axcelis released its financial guidance for Q1 2020, highlighting that it forecasts revenue will come in at around $118 million. That’s higher than the $115 million prior guidance.
Moreover, gross margin expectations have bumped up to between 37.5% and 38.0%. For perspective, previous guidance marked a gross margin of 37.0%.
Topping it off, the company previously announced that it received an order to ship its first Purion system on April 2 into Japan. The order is for the Purion XE Power Series™ implanter, and the product line extension will reportedly be used in high volume output of power devices that support mobile, automotive, and IoT applications.
“This is a significant win for Axcelis. We are very excited to be able to offer new and innovative implant solutions to leading Japanese semiconductor companies serving this very important market segment.”
5G Stocks to Watch: Ceragon Networks Ltd. (NASDAQ:CRNT)
The next on our list of 5G stocks to watch is Ceragon Networks Ltd.
Based in Israel, Ceragon provides high-capacity microwave Ethernet and TDM wireless backhaul to private businesses, as well as wireless service providers. In the 5G stock revolution, Ceragon Networks is a game-changer, mainly because of its FibeAir IP-20C, a versatile wireless backhaul node that creates the ideal ecosystem for 5G.
Despite declining in 2019—Q3 2019 revenue was down 11% from the previous quarter—the company made a comeback in April 2020, up an impressive 46%, as of April 13. The next day, shares of the company increased by almost 11%.
On April 16, as of 3:31 p.m. EDT, shares of CRNT are up 2.51% at $2.04. The company has a current market capitalization of $164.939 million, according to Yahoo Finance.
5G Stocks to Watch: MicroVision, Inc. (NASDAQ:MVIS)
MicroVision, Inc. is an American technology company that develops laser scanning technology for 3D sensing and projection. Many forecast that when 5G rolls out, latency will decrease, and there will be more consumer privacy, thus helping MicroVision’s services run better.
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On April 17, MVIS stock is up 4.04%, as of 3:48 p.m. EDT, trading at $0.2601.
The company has been quiet in 2020, with its last announcement coming on April 9, when it said it received a Nasdaq global market listing deficiency notice.
“The company is monitoring the market value and bid price of its listed common stock. The company continues to execute its business plan and will consider other actions that it may take in order to regain compliance with the listing requirements,” the press release stated.
The Other 5G Contenders
5G Stocks to Watch: Boingo Wireless, Inc. (NASDAQ:WIFI)
It has not been the best trading day for Boingo Wireless, Inc., which closed down 6.13% at $11.64.
That said, the company is most definitely one that is becoming a key figure in the 5G revolution as it operates a Wi-Fi network at more than 1,500 hotspots that reach more than 1 billion customers. The company has DAS networks that use a technology-agnostic approach, which complements its wireless solutions, including 5G.
At the very least, Boingo Wireless, Inc. is among the 5G stocks to watch in the coming months.
5G Stocks to Watch: Inseego Corp. (NASDAQ:INSG)
Yes, INSG stock closed down 4.38% on Friday, but that doesn’t mean we should write off Inseego Corp just yet. According to Yahoo Finance, in the last seven days, as of April 12, the company’s share price increased by 34% to $9.45. Analysts seem to be relatively bullish on the company, too. Inseego’s six analysts are now forecasting revenue of $292 million in 2020. This represents a 33% improvement in sales compared to the last 12 months.
As such, it will be worth seeing if INSG can put out what analysts are expecting in the coming months.
Takeaway
Investors aren’t going to want to let this revolution slip from their fingers. Now is the time to check out the various 5G stocks offered on the marketplace.
Featured image: PixaBay
