The telecommunication industry, in particular 5G is one of the fastest growing sectors. As a result, penny stocks related to 5G technology generate a lot interest. Despite the recent arrival of the technology, it is expected to grow rapidly and presents a massive opportunity to shrewd investors.
Here is a list of the best 5G penny stocks to watch this year. However, investors should also remember that these are high-risk investments.
Contents
1. Nokia Corporation (NYSE: NOK)
One of the oldest names in the telecommunication industry, Nokia, had been at the helm of mobile technology since people started using cell phones commercially. The Finnish consumer electronics had almost a 50% market share a decade ago and have fallen from grace with the rise of companies like Samsung and Apple.
Nokia Corporation traded at an all-time of $61.88 in June 2000 and has been falling steeply over the last decade. The current stock price is already up by almost 40% over the year’s low and is currently trading at $5.03 per share.
Investors should be following as the company is remodeling its commitment towards the 5G generation with groundbreaking innovations over the last couple of years. Besides, the company has been ranked as the top companNokiay in 5G Standard Essential patents recently. Nokia is also emerging as the primary choice for the 5G roll-out in the international market too.
Though it is to be seen whether the investors’ confidence will be paid off by Nokia, it is currently regarded as 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)
For over 50 years, Communications Systems, Inc. has provided physical connectivity infrastructure and services for global distributions of broadband networks. The company relies on innovation and cost-effective solutions to optimize broadband network services as well as the architecture.
Shares of Communications Systems Inc. are trading at $6.53. In the last 52 months, the company stock range has been within $3.70 to $11.45, making it a lucrative buy at the current market price.
As the global 5G market is about to expand, Communications Systems stands at a threshold to provide the required infrastructure for its adoption. The company has earned a “buy” rating from most stock brokerage houses and remains one of the most sought-after penny stocks in recent times.
3. ASE Technology Holding (NYSE:ASX)
The third company that has been on the radar of investors is ASE Technology Holding, a semiconductor and test manufacturing service provider. The Taiwan-based company was formed in 2016 by getting into an agreement with Siliconware Precision industries. They manufacture wafer-thin chips and high precision integrated circuit boards for electronic equipment, which find most uses in PC, smartphones, and other such consumer electronics products.
ASE Technology is currently trading at the NYSE at $7.71, a rise of almost 4% over yesterday’s closing price.
They have been growing steadily over a few years due to the rising demand in the component market. The company delivered a 4.1% profit in 2019 and posted $3.96 as earnings per share.
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 possesses a SaaS-based system to provide support to multiple industries in manufacturing, construction, aviation, logistics, and more. They help clients improve their 5G coverage over a broader area, provide high-speed data transfer, and reduce network latency.
Inseego is trading at around $7.97 and provides traders an opportunity to multiply their investment within a short period.
The faster adaptability of 5G is expected to help Inseego breach its previous 52-week high of $21.93 within a few months.
5. Wipro (NYSE:WIT)
Indian-based IT firm Wipro has a presence in over 26 industries and provides services and support in robotics, cloud computing, hyper-automation, and cognitive technologies.
They’re poised to grow steadily in the coming years due to the business’s expanse and industrial penetration. The stock price of Wipro is trading at $7.48 per share, which is almost close to its 52-week high value.
Wipro is on a growth trajectory and posted a YoY increase of 8% in its net income, which was valued at $1.29 billion.
Conclusion
These five stocks are trading below $10 and are expected to grow exponentially over the next few months, as evident from the movement of the stock prices. Investing early in these companies can help investors improve their profit-making chances before the share prices become inflated.

James Kelly is my name and penny stocks are my game! Former day trader turned long-term investor with a decade of experience in the market. Over the years, I’ve joined dozens of trading services and I aim to provide honest reviews to help traders make better decisions!
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