The telecommunications industry, especially 5G, is one of the fastest growing sectors. As a result, penny stocks related to 5G technology are generating a lot of interest. Despite the recent adoption of the technology, it is expected to grow rapidly, which will present a tremendous opportunity to smart investors.

Here’s a list of the best 5G penny stocks to see this year. However, investors should also remember that these are high risk investments.

1. Nokia Corporation (NYSE: NOK)

One of the oldest names in the telecommunications industry, Nokia has been at the forefront of mobile technology since people started using cell phones commercially. Finnish consumer electronics had a market share of nearly 50% a decade ago and has fallen out of favor with the rise of companies like Samsung and Apple.

Nokia Corporation was trading at an all-time high of $ 61.88 in June 2000 and has declined sharply over the past decade. The current share price is up nearly 40% from its year-low and is currently trading at $ 5.03 per share.

Investors should follow as the company reshapes its commitment to the 5G generation with groundbreaking innovations over the past few years. Also, the company was recently named a top Nokia company in 5G Standard Essential patents. Nokia is also the first choice for introducing 5G to the international market.

While it remains to be seen whether Nokia investor confidence pays off, it is currently considered the dark horse of 5G technology. Since their trading price is one of the lowest, it could potentially offer the highest returns.

2. Communications Systems, Inc. (NASDAQ: JCS)

Communications Systems, Inc. has provided physical connectivity infrastructures and services for the global distribution of broadband networks for over 50 years. The company relies on innovations and cost-effective solutions to optimize broadband network services and architecture.

Communications Systems Inc. shares trade at $ 6.53. For the past 52 months, the company’s stock range has ranged from $ 3.70 to $ 11.45, making it a lucrative buy at current market price.

As the global 5G market begins to expand, Communications Systems is on the cusp of providing the infrastructure needed to launch it. The company has received a buy rating from most stockbrokers and remains one of the most sought-after penny stocks of recent times.

3. ASE Technology Holding (NYSE: ASX)

The third company on investor radar is ASE Technology Holding, a semiconductor and test manufacturing service provider. The Taiwan-based company was founded in 2016 through an agreement with Siliconware Precision Industries. They make wafer-thin chips and high-precision integrated circuit boards for electronic devices, most commonly used in personal computers, smartphones, and other such consumer electronics products.

ASE Technology is currently trading at $ 7.71 on the NYSE, up nearly 4% from yesterday’s closing price.

In a few years they have grown steadily due to the increasing demand in the component market. The company posted a profit of 4.1% in 2019 and earnings per share of $ 3.96.

4. Inseego (NASDAQ: INSG)

is the provider of 5G and intelligent IoT device-to-cloud solutions that support network devices, routers and gateways. The company also has a SaaS-based system to support multiple industries in manufacturing, construction, aerospace, logistics, and more. They help customers improve their 5G coverage over a larger area, provide high-speed data transmission, and reduce network latency.

Insego is trading at around $ 7.97, giving traders the opportunity to multiply their investment in a short amount of time.

5G’s faster adaptability is expected to help Insego surpass its previous 52-week high of $ 21.93 in just a few months.

5. Wipro (NYSE: WIT)

Wipro

India-based IT company Wipro is represented in over 26 industries and provides services and support in the areas of robotics, cloud computing, hyper-automation and cognitive technologies.

They are ready to grow steadily in the years to come due to the company’s expansion and industrial penetration. Wipro’s share price is trading at $ 7.48 per share, which is almost close to its 52-week high.

Wipro is on a growth path, posting an 8% year-over-year increase in net income estimated at $ 1.29 billion.

Conclusion

These five stocks trade below $ 10 and are expected to grow exponentially over the next few months, based on the performance of stock prices. Investing in these companies early can help investors improve their chances of winning before stock prices get inflated.

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