Because the U.S. Senate has finally passed President Biden’s $1 trillion infrastructure package, with its passage in the House expected by most, 5G internet providers are uniquely positioned to benefit from sizable broadband internet infrastructure spending. Since the growing demand for high bandwidth connectivity and rapid digitization has made it essential for the government to boost the deployment of 5G networks nationwide, we believe 5G stocks Crown Castle (CCI), Nokia (NYSE:NOK), and Skyworks Solutions (NASDAQ:SWKS) should see a significant increase in demand for their services. Read on.Fifth generation (5G)network providers are poised to benefit significantly in the coming months because the U.S. Senate has approved a $1 trillion bipartisan infrastructure plan. The plan includes a $65 billion budget for broadband internet infrastructure, which is projected to accelerate 5G spectrum rollout across the U.S.
The Biden administration’s plans to provide access to high-speed internet at affordable prices in areas with no broadband infrastructure and to support the work-and-study-online trend should bolster the demand for 5G service providers. In addition, rising demand for machine-to-machine and IoT networks, mobile broadband services, and data breach concerns are anticipated to propel the growth of 5G infrastructure. The global 5G infrastructure market is expected to reach $80.5 billion by 2028, growing at a 49.8% CAGR.
Given this backdrop, we believe the prices of 5G stocks Crown Castle International Corp. (NYSE:CCI), Nokia Corporation (NOK), and Skyworks Solutions Inc . (SWKS) will likely gain significantly in the near term and, hence, could be solid bets now.