Marketing campaigns have started touting the nation-spanning launch of 5G mobile networks, promising faster download speeds and better reliability. But there's one catch: You'll need a new phone that can handle the new computer engineering careers signal.
This means a new consumer device upgrade cycle may be coming. Paired with the continuous infrastructure improvements network operators will need to make in support of their 5G services, companies involved in the manufacture of hardware could benefit the most. Three worth a look in the month of September are Skyworks Solutions (NASDAQ:SWKS), Applied Optoelectronics (NASDAQ:AAOI), and Micron Technology (NASDAQ:MU).
As I write this, semiconductor stocks are finally taking a breather after a relentless rally off of March lows. Many chip companies have had surging demand as organizations scramble to update their equipment to deal with social distancing and the ensuing remote work. Skyworks is not one of those companies. Its revenue through the first three quarters of its current fiscal year 2020 remains down 6% from a year ago.
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