2 Cash-Rich 5G Stocks That You Can Buy Right Now
The U.S. stock market has been on a roller coaster ride of late, thanks to the novel coronavirus pandemic that has put businesses in a major spot of bother. The economic fallout of the COVID-19 disease is expected to be severe, with Goldman Sachs predicting that the U.S. economy could contract as much as 34% in the second quarter of 2020.
Grim economic forecasts such as the one from Goldman have kept the stock market under pressure, though there has been a partial recovery over the past few weeks. However, stocks continue to remain cheap despite the recent rally, giving savvy investors an opportunity to buy into fast-growing sectors such as 5G networks at a discount.
Skyworks Solutions (NASDAQ: SWKS) and Xilinx (NASDAQ: XLNX) are two stocks that expect to benefit from 5G deployments. Both companies are sitting on a nice pile of cash that should not only help them weather the ongoing crisis but also allow them to initiate stock buybacks to lower their share counts and boost earnings per share.
Source Fool.com
