NOK

The Week

Nokia (NOK.US) fell 11.78% last week to close at $9.14, while the S&P 500 lost 1.95% over the same period, leaving the stock about 9.83 percentage points behind the benchmark. The week was effectively one-way traffic to the downside: from a $10.31 open on Monday, the shares slipped to $9.86 on a brief Tuesday bounce, broke below $9.40 on Wednesday, hit a weekly low of $9.04 on Thursday, and weakened further into Friday’s close. The stock has now pulled back from its 11 September high of $11.17 and sits below both its 20-day and 60-day moving averages. This was a decisive risk-off week for the name.

Key Events

The Nokia story this week centred on a series of portfolio moves, set against a broader sell-off in AI-related names. Early in the week, Nokia launched a flexible multi-PON line card supporting 50G/25G/10G/GPON for AI-ready fibre broadband. On Tuesday, the company announced the sale of its Enterprise Campus Edge business to AURELIUS, then the next day confirmed the divestment of its private wireless business, with put option activity picking up as the stock dropped. Later reporting showed Nokia selling its fixed wireless access (FWA) business to pivot toward AI networks, with Inseego taking the asset via an equity deal. On Friday, Nokia and SoftBank said they would run a commercial AI-RAN trial in Japan in 2027, while Vietnamese police sought cooperation with Nokia and Ericsson on 5G, AI and security. There were no material company filings this week.

Analyst Ratings

Nokia is covered by 13 firms: 7 rate it buy, 4 rate it overweight, 2 rate it hold, and none rate it underperform or sell. The consensus recommendation is buy, with a consensus target of $14.97, which sits roughly 63.7% above the latest close of $9.14. The target range runs from $8.50 to $21.00, a spread of about 2.5x. The lower bound is essentially flat against the current share price, while the top end implies meaningful upside. Among 39 covered companies in the communications-equipment industry, Nokia ranks 6th on ratings, placing it in the upper-middle tier.

The Week Ahead

The main event is Nokia’s fiscal Q3 2026 earnings, scheduled for 22 October pre-market, with consensus estimates of $0.051 EPS and $5.684 billion in revenue. Given this week’s divestments of the campus-edge, private-wireless and FWA businesses, management’s framing of the remaining portfolio and its AI-network strategy will be in focus. On the macro side, the US releases NAHB housing-market data, housing starts and building permits, and EIA crude inventory figures next week—any of which could keep risk appetite volatile for European AI-exposed names like Nokia.

In Short

Nokia’s decline this week arrived at the intersection of strategic divestments and a global AI sell-off. On the ratings side, the sell-side still carries a buy consensus with a target well above spot, but the wide target range—from near the current price to more than double it—signals genuine disagreement. The valuation is not cheap: P/E sits at roughly 62x and P/B at 2.1x. The latest session’s fund-flow split shows large-lot money tilting net seller while smaller orders lean the other way. The key test now is whether earnings validate the post-divestment mix, and whether the gap between analyst ratings and realised flows keeps widening.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.