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However, the global semiconductor shortage is a major headwind that is currently hamstringing the 5G rollout. Regarding this, Evercore analyst James Ratcliffe said, “Overall, you’re looking at some time in the end of ‘21 to end of ‘23 to get two-thirds of the country’s population covered with a 5G service.”
The federal government has already provided $52 billion in funding to the domestic semiconductor industry through the CHIPS for America Act. Given this backdrop, we believe semiconductor companies Broadcom Inc. (AVGO), QUALCOMM Incorporated (NASDAQ:QCOM), NXP Semiconductors N.V. (NXPI), and Qorvo, Inc. (QRVO), which facilitate 5G network infrastructure, should grow substantially in the coming months.
