The Best 5G Stock to Buy This Week Just Got a Massive Buy Signal

If you're a regular here at Money Morning, you know we're extremely bullish on 5G stocks. In fact, every week, we take a look at the technology market and search for the best 5G stocks for our readers to invest in.

"5G" stands for the 5th generation of the newest wireless technology. And it's poised to reach speeds of at least 100 times what we currently have with 4G. This immense level of speed means little-to-no delays. It will be like having a Wi-Fi connection available no matter where you are.

This technology is an absolute game changer, and companies are racing to be the first to harness its power. With companies developing 5G, we'll be able to produce self-driving cars, perform AI medical diagnosis, establish cloud-based gaming, and even use wearable IoT devices.

We're just six months out from the 5G rollout, so investors need to act soon to get in on this decade's greatest shift in technology. Firms like T-Mobile US Inc. (NASDAQ: TMUS), AT&T Inc. (NYSE: T), and Verizon Communications Inc. (NYSE: VZ) are already gearing up for the mass implementation of 5G in cities like Los Angeles and Houston. Over the last year alone, these companies have expanded 5G networks to over 30 U.S. cities.

And these firms only account for a fraction of the global 5G market.

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MarketWatch says 5G services are already worth roughly $22 billion. Over the next four years, it's forecast to rocket up to $86 billion. Over the next six years, ResearchandMarkets says that number will triple to $252 billion - resulting in a 1,000% increase from today.

This could be a life-changing opportunity for retail investors looking in the right places.

Fortunately for our readers, Money Morning is always up to date on the best 5G stocks to buy.

Below, we have this week's best 5G stock and how it could capture gains of 29% or more in the next 12 months.

The Best 5G Stock to Buy This Week Just Got a Massive Buy Signal

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Our top pick this week is Advanced Micro Devices Inc. (NASDAQ: AMD).

You've probably heard of this American chip-maker already, but AMD has been specialized as a semiconductor pioneer for over 50 years. It makes computer chips for things like desktops, laptops, cell phones, gaming consoles, and more.

This company's hardware already plays a pivotal role in the coming 5G market. In order to handle the sheer speed of 5G, devices will need chips that can handle more data at once.

AMD already sells its chips to telecom companies, the U.S. military, and even Internet giant Alphabet Inc. (NASDAQ: GOOGL). In fact, back in March, Google and AMD announced that AMD would be providing its graphics chips for Google's Stadia cloud-gaming service.

Since cloud-gaming relies on the speed and capacity of 5G chips and networks to play games in real time, AMD is now in the perfect position to profit from the 5G revolution as well as the gaming industry.

That makes AMD one of the hottest companies to buy, but another opportunity for investors to see gains of up to 29% from AMD stock is right around the corner.

That's because this is a big week for game companies, chip makers, and 5G stocks. In fact, between June 11 and June 13, the annual Electronic Entertainment Expo (E3) in Los Angeles will show off the latest entertainment technology products like video games, computer hardware, and more.

E3 is such a massive event for entertainment technology companies that 70,000 people attended last year's convention. Beyond that, the event was broadcast in 19 different languages and garnered 4.4 million online viewers.

While some investors may not expect 5G companies like AMD or Intel Corp. (NASDAQ: INTC) to present themselves at an event primarily for video games, AMD's latest E3 conference has investors hyped up.

This is because AMD announced that it has signed a deal with Microsoft Corp. (NASDAQ: MSFT) to power the next generation of Xbox. This is a video game console that will rely on 5G networks and chips that can handle the increased load of information for power and speed that's at least four times what's currently on the market. And AMD is already at the forefront of 5G chip development.

The breaking news today has rocketed AMD up by 3.3% - a boost that is fairly common for companies presenting at E3. Just look at last year's gaming headset manufacturer Turtle Beach Corp.'s (NYSE: HEAR) 9% boost during 2018's three-day event.

Similarly, keyboard maker Logitech International SA (NASDAQ: LOGI) jumped 4%, while AMD itself increased 7% over a few days at 2018's E3. And it looks like that trend will continue for the company this year as well.

With today's announcement, AMD stock is powering up to surpass its previous high from 13 years ago of $40.70. But we think it'll soar even higher as 2020's 5G revolution inches ever-closer.

Shares currently trade for $33.90 but are forecast to rise 29% over the next 12 months alone.

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About the Author

Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.

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