The top tech stock to buy in August 2019 stands to benefit the most as we transition over from 4G to 5G networks between now and 2020.
According to TechCrunch, Apple Inc. (NASDAQ: AAPL) is releasing its first line of 5G iPhones in 2020. But within the next two years, all iPhones will be 5G capable. And this could be a huge boon for the best tech stocks to buy.
Beyond that, according to Android Central, AT&T Inc. (NYSE: T), Verizon Communications Inc. (NYSE: VZ), and T-Mobile US Inc. (NASDAQ: TMUS) have already established 5G networks in over 26 U.S. cities. And Lifewire says that in 2020, 5G will be up and running across the entire United States.
So, even with all the buzz lately, 5G is still in the early stages of a rollout. And the top tech stocks to buy are poised for massive gains. Investors who get in now could capitalize on these gains for life-changing windfalls.
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To help our readers cash in on this opportunity, we're bringing you the top tech stock to buy in August 2019. In fact, this tech stock could grow as much as 116% over the next 12 months...
The Top Tech Stock to Buy in August Will Benefit from 5G
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Our top tech stock to buy is Micron Technology Inc. (NASDAQ: MU). This is a Boise, Idaho--based computer memory and data storage drive company.
Micron has been around since 1978. But over the last 10 years, it has been involved in several joint ventures with Intel Corp. (NASDAQ: INTC). These joint ventures were aimed at improving both capacity and quality for memory storage.
As a result, Micron became the first company to develop a microSD card with a storage capacity of 1 terabyte.
And that launched Micron into the limelight. In fact, in 2018, it was ranked at 150th in the Fortune 500.
Since 2016, the company has doubled its annual profits. And Micron continues to grow. In Q1 2019, its revenue was up 16% to $7.91 billion. Plus, its year-over-year operating cash flow jumped 32.14% to $4.81 billion by the end of Q1 2019.
On top of that, Micron stock's price/earnings ratio is 4.75 - that's very low in comparison to an average of 71 for the rest of the semiconductor industry.
Right now, Micron stock trades for $41.62. But with a target price of $90, it offers a potential 116% upside over the next year. But with the coming 5G wave, we think this tech stock could rocket even higher.
Mark My Words: If You Don't Invest in "5G" Right Now, You'll Regret It for the Rest of Your Life
Today, you have a rare chance to lock in a ground-floor opportunity from the biggest technology of the next decade.
I'm talking about 5G. Early investors in previous generations have seen windfalls like $51,000, $80,130, $113,660, and $565,640.
But this could be 100 times bigger than all the previous generations combined.
And we have a list of recommendations that can make you a fortune. Go here.