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/NOK
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Nokia Oyj

Nokia Oyj

NOK
$10.12USD↓-2.50%-0.26 today

MARKET CAP

43.2B

P/E (TTM)

32.6x

FWD P/E

28.4x

DAY RANGE

$10 – $10

52W RANGE

$4
$17

AI Summary

Stalk
Sell NowHigh

NOK is entrenched in a Stage 4 decline with confirmed lower highs and lower lows, and price remains below all short- and medium-term EMAs with no clear exhaustion despite extreme oversold readings. The medium-term bias is bearish, reinforced by active Support Failure and Post-Parabola Collapse patterns, and execution favors selling into any relief rally up to the declining EMA band. Long-term uptrend remains intact but offers no immediate tradable edge to the upside.

  • ↑AI/cloud orders up 49% in Q1, boosting optical networks
  • ↑Q1 revenue €4.5B (+4% YoY) with €629M free cash flow
  • ↓Mobile networks sales fell 13%, pressuring revenue mix
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Nokia Corporation (NYSE: NOK) operates in the telecommunications and networking sector, providing a wide range of technology services and products, particularly in mobile and optical networks. The company is strategically positioned in the growing AI and cloud market, leveraging the demand for increased networking capacity fueled by the AI super cycle and substantial capital expenditure from hyperscalers.

Bull says

  • ↑AI/cloud orders up 49% in Q1, boosting optical networks
  • ↑Q1 revenue €4.5B (+4% YoY) with €629M free cash flow
  • ↑Net cash €3.8B supports R&D and strategic investments
  • ↑Raised network infrastructure growth guide to 12–14% for FY
  • ↑Infinera integration ahead of schedule, unlocking cost synergies
  • ↑Strong momentum factors, ample liquidity, positive analyst revisions

Bear says

  • ↓Mobile networks sales fell 13%, pressuring revenue mix
  • ↓One-off €120M charge cut operating margin to 9%
  • ↓Currency and tariffs to shave €20–30M off profits
  • ↓Trading at 29× FY26 earnings, constrained by high valuation
  • ↓Weak profitability and dividend yield factors signal inefficiency
  • ↓Elevated leverage and supply chain risks could limit growth

Investment themes with NOK

Networking & Connectivity Infrastructure↑ +0.56%

INTC · CIEN · MU

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-14-2026bullish

Transcript signals

Bull points

  • Our first quarter gave us a solid start to 2026 net sales grew 4% to four and a half billion euros with an operating margin of 6.2% and we delivered a free cash flow of 629 million euros in the quarter.
  • Net sales grew 49% and we received €1 billion in new orders, particularly driven by optical networks.
  • We now expect our AI and cloud addressable market to grow at a 27% CAGR between 2025 and 2028, up from the 16% we shared in November.

Bear points

  • Fixed networks declined by 13%, reflecting our portfolio strategy to focus on higher margin products
  • We expect mobile infrastructure across margins in the second and third quarters to be somewhat weaker and then much stronger in quarter four
Read full transcript analysis ›