Fifth generation (5G) wireless is exploding in terms of its adoption and growth around the world. According to market research firm Precedence Research, the global 5G market is forecast to reach $1.87 trillion by 2030 for a compound annual growth rate (CAGR) of 44.63% between this year and the start of the next decade. Because of this rampant growth, I have selected four of the best 5G stocks to buy now.

5G wireless technology is expected to not only make internet and communication speeds exponentially faster, but it is also anticipated that it will advance cutting edge technologies that hold the promise to transform our world, from artificial intelligence and cloud computing to self-driving vehicles. With so much potential and money to be made, it should come as no surprise that companies large and small are pushing into the 5G space. However, there are a handful of companies that have an edge on the competition and are leading the charge into 5G.

Here are four of the best 5G stocks that investors can buy now:

Best 5G Stocks to Buy: Qualcomm (QCOM)

San Diego, California-based Qualcomm (NASDAQ:QCOM) is a leader in the 5G sector, owning several critically important patents related to the technology and manufacturing many of the semiconductors that enable 5G wireless on smartphones and other wireless devices. The company had a banner year in 2021 as demand for 5G wireless accelerated around the world. Qualcomm’s revenue increased 55% to $33.5 billion in 2021 as its chipmaking and licensing revenues grew 64% and 26%, respectively. The company’s earnings per share (EPS) soared 104% on an annualized basis. And the company is working hard to diversify its business, expanding into Internet of Things (IoT) technologies and the automotive sector.

Yet, despite its success, QCOM stock has been pulled down 34% this year to $122.42 per share as investors broadly sell off technology securities, especially those of fast growing semiconductor companies. However, Qualcomm’s stock also looks comparatively cheap at 13 times forward earnings. It also pays a quarterly dividend that yields 2.35%. Strong 5G demand plus a low valuation and decent dividend should be enough to attract investors to QCOM stock. The median price target on Qualcomm’s share price among analysts is currently $190, suggesting more than 50% upside from current levels.

Verizon (VZ)

New York City-based Verizon (NYSE:VZ) is a leading telecommunications company that is also heavily involved in the rollout of 5G wireless. It’s also a stock that has managed to outperform the market this year, down only 3% year-to-date compared to a 27% decline for the Nasdaq index on which it trades. The outperformance of VZ stock is largely due to the fact that it pays a quarterly dividend that yields 5.04% each quarter. The company has raised its dividend for 18 consecutive years and it has proven to be a reliable payout for shareholders, making Verizon a solid defensive stock during turbulent times.

Since the smartphone market in the U.S. is saturated, Verizon’s revenue growth has averaged only about 2% over the past five years. However, VZ stock looks dirt cheap at current valuations. The company’s price-to-earnings (P/E) ratio sits at 9.9, which is down about 35% over the past five years and nearly 30% below its 10-year median P/E ratio of 14. At around $50 per share, the stock is affordable for most retail investors. And, like Qualcomm, Verizon is seeking to grow its earnings and boost its stock price through diversification, pushing into IoT technologies and automotive connectivity as motor vehicles become more autonomous. The median price target on the shares is $57, suggesting 12% growth in the coming year.

Best 5G Stocks to Buy: American Tower (AMT)

Boston-based American Tower (NYSE:AMT) is a real estate investment trust that operates the wireless communications infrastructure on which 5G networks rely. The company is essential to the growth of 5G wireless with nearly 200,000 communications sites worldwide, including in North America, Europe and Asia. Investors looking to play the 5G wireless rollout should consider taking a position in AMT stock, which is down 12.5% this year at $255.91 per share. The median price target on the stock is $284.50, which would be 11% higher than where it currently trades.

Like the other stocks on this list, AMT pays a decent quarterly dividend of 2.24%. With a P/E ratio of 44.36, AMT stock is more expensive than the others listed here. Nevertheless, it offers a great way for investors to get exposure to the fast growing 5G sector. Plus, AMT’s business in Europe continues to grow at a strong clip thanks to supportive partnerships with governments in countries such as Germany, Spain and France, all of whom want to see 5G wireless expanded to greater numbers of constituents. Long-term, American Tower stock should continue to grow as the rollout of and demand for 5G services grows worldwide.

Marvell Technologies (MRVL)

Down almost 50% year-to-date, Marvell Technologies (NASDAQ:MRVL) is another semiconductor company whose shares have been knocked lower in the current bear market. However, the company’s technology is an essential component of the high-speed 5G connectivity that’s used across computing, networking, data storage, and smartphones. Marvell’s 5G technology is especially important for 5G wireless infrastructure and networks. As such, MRVL stock is a great option for investors seeking out 5G wireless plays. However, the company also develops technologies that are widely used in artificial intelligence, drones, and cloud computing.

At less than $50 per share, analysts see plenty of upside potential with MRVL stock. The median price target on the stock is currently $83.50, which would be 99% higher than where the shares are currently trading. The low estimate on Marvell shares is $60, which is 43% higher than current levels. Unfortunately, Marvell Technologies pays a dividend that only yields 0.51% a quarter. While low, investors can make up for the small dividend through Marvell’s explosive growth over coming years as 5G wireless expands around the world. The decline in the stock price this year presents a great opportunity for investors to buy the dip in this tech company.

On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.