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In November, President Biden signed a $1 trillion-plus infrastructure bill into law. The bill allocates $65 billion for improving broadband internet access in rural areas. During the pandemic, the wireless industry has benefitted from user dependence for work and education. In addition, the demand for 5G services has increased, and companies are investing significantly to deploy 5G solutions as soon as possible. The global 5G services market is expected to grow at a 30.3% CAGR from 2022 – 2026, which could increase the need for advanced communication equipment.
Furthermore, the global telecom equipment market is expected to reach $866.8 billion by 2028, surging at a 6% – 8% CAGR. Therefore, we think fundamentally strong communication equipment stocks Cisco Systems, Inc. (NASDAQ:CSCO), Motorola Solutions, Inc. (NYSE:MSI), Zebra Technologies Corporation (ZBRA), and Juniper Networks, Inc. (JNPR) might be solid bets.
