Even though growth stocks arse under pressure, 5G spending will continue to trend higher over the upcoming months. So, it could be wise to scoop up 5G stocks such as NXP Semiconductors (NASDAQ:NXPI), Qorvo (NASDAQ:QRVO), and Rambus (NASDAQ:RMBS).Amid the ongoing rapid digitalization, consistent advancements in technologies such as 5G has become crucial. With the omicron variant of the coronavirus having been identified in at least 17 U.S. states, the demand for 5G technologies is only expected to surge owing to the continued hybrid work culture. Investors’ interest in the sector is evident from the Defiance 5G Next Gen Connectivity ETF’s (FIVG) 2.9% gains over the past three months and 18.9% year-to-date returns.
The ease of operating wireless 5G supported devices with high and uninterrupted speed drives the overwhelming demand. According to a Report Ocean report, the global 5G technology market is expected to grow more than 49.1% during 2018-2025.
Given this backdrop, fundamentally sound 5G stocks NXP Semiconductors N.V. (NXPI), Qorvo, Inc. (QRVO), and Rambus Inc . (RMBS) could be solid picks now.