Nokia rozšiřuje byznys mimo telekomunikace do AI sítí, cloudové konektivity a podnikové infrastruktury. Ve čtvrtletí se jí tržby z AI a cloudu meziročně více než zdvojnásobily díky poptávce po síťové infrastruktuře pro datová centra AI.
Key Takeaways Nokia is expanding beyond telecom through AI networking, cloud connectivity and enterprise infrastructure.NOK's AI and Cloud revenues more than doubled, supported by demand for AI data center networking.Nokia is investing in 5G, Open RAN and optical infrastructure while expanding enterprise opportunities. Nokia Corporation (NOK - Free Report) is evolving beyond its traditional telecom equipment business by expanding into AI networking, cloud connectivity and enterprise infrastructure. As investment in artificial intelligence accelerates, the company is benefiting from rising demand for high-speed networking solutions while continuing to serve wireless operators worldwide. Investors are increasingly evaluating whether this broader business mix can drive sustainable long-term growth despite the cyclical nature of telecom spending.
How Nokia Builds Growth Across Its BusinessNokia operates through four primary business segments: Mobile Infrastructure, Network Infrastructure, Portfolio Businesses and Technology Licensing. Mobile Infrastructure remains the largest contributor, providing radio access products and software for wireless carriers. Meanwhile, Network Infrastructure has become an increasingly important growth engine through its Optical Networks, IP Networks and Fixed Networks businesses, serving telecom operators, cloud providers and enterprise customers.
The Portfolio Businesses segment expands Nokia's software and enterprise offerings, while Technology Licensing generates recurring revenues from one of the industry's largest wireless patent portfolios. This diversified structure helps reduce reliance on any single business while supporting more balanced long-term growth.
Why NOK Is Expanding Beyond Telecom CyclesAI is becoming a major growth driver for Nokia. During the latest quarter, AI and Cloud revenues more than doubled year over year, supported by strong demand for networking infrastructure powering AI data centers. Management also reported robust AI order activity, reinforcing confidence in future revenue opportunities.
Growth in Optical Networks and IP Networks further highlights Nokia's expanding exposure beyond traditional carrier spending. These businesses support hyperscale cloud providers and enterprises building AI infrastructure, creating additional revenue streams that complement the company's mobile networking operations. Similar opportunities are also attracting networking leaders such as Cisco Systems (CSCO - Free Report) and optical networking specialist Ciena Corporation (CIEN - Free Report) as AI infrastructure investment continues to accelerate.
How Nokia Strengthens Its Technology EdgeNokia continues investing in technologies that support long-term competitiveness. Its 5G portfolio, ReefShark chipsets and Open RAN initiatives are designed to improve network performance while lowering customer operating costs. The company also benefits from an extensive patent portfolio that supports recurring licensing revenue in addition to equipment sales.
Management is also expanding manufacturing capabilities and optimizing the business portfolio to focus more heavily on AI networking, optical infrastructure and enterprise solutions. These initiatives strengthen Nokia's position in faster-growing markets while supporting long-term profitability.
What Risks Could Slow NOK's ProgressDespite improving growth prospects, Nokia continues to face several challenges. Telecom capital spending remains cyclical, and customer investment timing can create quarterly revenue volatility. The company also operates in highly competitive networking markets while executing restructuring initiatives designed to improve long-term efficiency.
Additional risks include geopolitical uncertainty, supply constraints and changing global trade conditions, all of which could affect customer demand and project execution. Successfully balancing these challenges while expanding AI-related businesses will remain important for future growth.
How NOK's Ratings Fit the Growth StoryNokia currently carries a Zacks Rank #3 (Hold) with a Value Score of B, Growth Score of C, Momentum Score of A and VGM Score of B. These ratings reflect a company benefiting from improving AI infrastructure demand and attractive valuation characteristics while still facing execution risks and telecom market cyclicality. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Overall, Nokia is building a more diversified networking business by expanding beyond traditional telecom infrastructure into AI, cloud and enterprise networking. While industry headwinds remain, continued strength in Network Infrastructure, licensing and AI-related demand provides meaningful long-term opportunities. The current Hold rating reflects a balanced outlook as investors monitor execution and the pace of AI-driven growth.
Nokia zveřejnila výsledky za 2. čtvrtletí 2026. V prezentaci uvedla, že tempo růstu je počítáno v konstantní měně a ostatní finanční údaje podle srovnatelného vykazování.
Nokia Oyj (NOK) Q2 2026 Earnings Call July 23, 2026 8:00 AM EDT
Company Participants
David Mulholland - Head of Investor Relations
Justin Hotard - President, CEO & Interim President of Mobile Infrastructure
Marco Wiren - Chief Financial Officer
Conference Call Participants
Terence Tsui - Morgan Stanley, Research Division
Simon Leopold - Raymond James & Associates, Inc., Research Division
Sami Sarkamies - Danske Bank A/S, Research Division
Alexander Duval - Goldman Sachs Group, Inc., Research Division
Ulrich Rathe - Bernstein Institutional Services LLC, Research Division
Jakob Bluestone - BNP Paribas, Research Division
Oliver Wong - BofA Securities, Research Division
Richard Kramer - Arete Research Services LLP
Sandeep Deshpande - JPMorgan Chase & Co, Research Division
Sébastien Sztabowicz - Kepler Cheuvreux, Research Division
Robert Sanders - Deutsche Bank AG, Research Division
Artem Beletski - SEB, Research Division
Felix Henriksson - Nordea Markets, Research Division
Presentation
David Mulholland
Head of Investor Relations
Good morning, ladies and gentlemen. Welcome to Nokia's Second Quarter 2026 Results Call. I'm David Mulholland, Head of Nokia Investor Relations. And today with me is Justin Hotard, our President and CEO; along with Marco Wiren, our CFO.
Before we get started, a quick disclaimer. During this call, we will be making forward-looking statements regarding our future business and financial performance, and these statements are predictions that involve risks and uncertainties. Actual results could, therefore, differ materially from the results we currently expect. Factors that could cause such differences can be both external as well as internal operating factors. We have identified such risks in the Risk Factors section of our annual report on Form 20-F, which is available on our Investor Relations website.
Within today's presentation, references to growth rates will be on a constant currency basis and other financial items will be based on our comparable reporting. Please note that our Q2 report and a presentation that accompanies this call are published on
Nokia zvýšila celoroční výhled srovnatelného provozního zisku po silném druhém čtvrtletí, kdy jí pomohla poptávka od AI a cloud zákazníků. Srovnatelný provozní zisk vzrostl na 434 milionů eur.
Nokia reported a stronger-than-expected rise in second-quarter comparable operating profit on Thursday, supported by growing demand from artificial intelligence and cloud customers.
The Finnish telecom equipment maker also raised its full-year comparable operating profit guidance range, signalling confidence that the current growth momentum will continue.
The company reported comparable operating profit of 434 million euros ($496.11 million) for the second quarter of 2026.
The figure represented an 18% increase from the same period and exceeded the average analyst estimate of 382 million euros, according to analysts polled by LSEG.
Nokia's results come as the company continues to shift its focus towards supplying fibre-optic equipment to large technology companies building AI data centres.
The strategy has helped the company benefit from rising investment in artificial intelligence infrastructure and increasing demand from cloud customers.
Nokia said comparable net sales reached 4.82 billion euros during the quarter, also exceeding market estimates.
The company reported particularly strong growth among its AI and cloud customers.
Net sales from these customers doubled during the quarter to 446 million euros.
Nokia also said it booked 2.8 billion euros in new orders during the period.
The increase in orders highlights continued demand for infrastructure supporting AI and cloud operations.
CEO Justin Hotard said demand remained strong, while supply constraints continued to affect the wider industry.
"Demand remains strong, while supply continues to be the main industry constraint, prompting our customers to place longer-term orders," Hotard said in a statement.
The comments point to continued pressure across the telecom equipment industry as companies seek to manage supply challenges while responding to growing demand linked to AI infrastructure.
Despite the stronger demand environment, Nokia has not been immune to rising costs linked to memory chips.
The rapid expansion of AI has contributed to a sudden increase in memory chip prices.
AI companies have been cornering the market for memory chips, creating pressure for telecom equipment makers and raising concerns about the impact on industry margins.
Nokia's Swedish rival Ericsson warned last week that rising memory chip costs, driven by surging AI demand, were putting pressure on the company.
The warning increased investor concerns that higher costs could affect margins and contributed to a sharp decline in Ericsson's shares.
Nokia's latest results suggest that the company is benefiting from the same AI-driven demand trend while continuing to navigate the supply constraints and cost pressures affecting the broader telecom equipment sector.
Since joining Nokia last year, Hotard has focused on expanding the company's data centre business.
Before joining the Finnish group, he led Intel's Data Center & AI Group.
Under his leadership, Nokia has placed greater emphasis on opportunities created by the growth of AI and data centre infrastructure.
The company has also entered into a billion-dollar deal with chipmaker Nvidia as part of its efforts to expand its position in the data centre market.
The strategy has coincided with a sharp increase in revenue from AI and cloud customers.
Nokia's latest results show that the business is becoming an increasingly important contributor to the company's overall performance.
Nokia also raised its full-year comparable operating profit guidance range following the stronger quarterly performance.
The company now expects full-year comparable operating profit to be between 2.1 billion euros and 2.6 billion euros.
This compares with its previous guidance range of 2 billion euros to 2.5 billion euros.
The upgraded outlook reflects Nokia's stronger second-quarter performance and its expectations for continued growth from AI and cloud customers.
The company, however, continues to operate in an industry facing supply constraints and higher memory chip costs.
While AI-related demand is creating new opportunities, the rising cost of memory chips remains a challenge for telecom equipment manufacturers.
For Nokia, the latest results indicate that its increased focus on AI infrastructure and data centre customers is helping support growth.
The company will continue to balance that demand with supply constraints and cost pressures across the wider industry.
Nokia oznámí hospodářské výsledky za 2. čtvrtletí 23. července; trh čeká tržby 5,59 mld. USD a EPS 7 centů. Firma zároveň rozšiřuje aktivity v oblasti AI a získává nové zákaznické zakázky.
Key Takeaways Nokia reports Q2 2026 earnings July 23, with consensus estimates of $5.59B in sales and EPS of 7 cents.Nokia expanded AI initiatives with a networking lab, AI framework and new industry collaborations.NOK benefits from customer wins and patents, but faces competition and uneven telecom spending. Nokia Corporation (NOK - Free Report) is scheduled to report second-quarter 2026 earnings before market open on July 23. The Zacks Consensus Estimate for sales and earnings is pegged at $5.59 billion and 7 cents per share, respectively. Over the past 60 days, estimates for NOK have remained unchanged for 2026, while it has increased 4.17% to 50 cents for 2027.
NOK Estimate Trend
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Earnings Surprise HistoryThe leading wireless manufacturer delivered a four-quarter earnings surprise of 2.91%, on average.
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Earnings WhispersOur proven model does not conclusively predict an earnings beat for Nokia for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Nokia currently has an ESP of -16.67% and carries a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Shaping the Quarterly PerformanceDuring the quarter, Nokia introduced an agentic AI framework in its Network Services Platform to enable trust-based AI operations for IP networks, helping service providers improve automation, decision-making, and network efficiency while ensuring secure and reliable network management.
NOK also launched its AI Networking Innovation Lab in Sunnyvale, CA. The facility is designed to accelerate the development, testing and validation of next-generation AI-native data center networking technologies through collaboration with leading AI and cloud ecosystem partners. It has announced a major expansion of advanced semiconductor testing and packaging operations in Pennsylvania, to strengthen U.S. chip capabilities and support rising demand from AI applications and next-generation computing technologies. Such efforts to gain prominence in expanding the AI ecosystem will likely have a positive impact on upcoming results.
In the quarter under review, Virgin Media O2, a leading British telecom company, has opted to leverage Nokia’s AirScale RAN portfolio for 5G Radio Access Network (RAN) deployment and modernization program across the UK. Nokia and Cinia partnered to strengthen Finland’s critical infrastructure with advanced DDoS protection. The collaboration aims to enhance network security, ensure service continuity and safeguard essential digital systems against rising cyber threats across the country. It has also formed a strategic collaboration with Blaize Holdings, Inc. and PT Datacomm to accelerate the deployment of hybrid AI inference infrastructure across Indonesia and the broader Asia-Pacific region. Such growing collaboration with industry leaders and customer wins will likely have a positive impact in upcoming quarters.
The company faces competition in each of its served markets. In the AI data center market, it faces competition from Arista Networks, Inc. (ANET - Free Report) , while Ericsson (ERIC - Free Report) remains a major rival in the legacy telecom space.
Price PerformanceOver the past year, Nokia has surged 113.1% compared with the industry’s growth of 26.4%, outperforming its peers, ANET and ERIC. While Arista has gained 51.1%, Ericsson has soared 31.5% over this period.
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Key Valuation MetricFrom a valuation standpoint, Nokia appears to be relatively premium than the industry but above its mean. Going by the price/earnings ratio, the company’s shares currently trade at 22.15 forward sales, higher than 18.91 for the industry and higher than the stock’s mean of 17.81.
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Investment ConsiderationNokia is benefiting from growing demand across software, enterprise and cloud-oriented networking markets. The company remains positioned to benefit from passive optical networking deployments and is the only global supplier offering O-RAN with commercial 5G Cloud-RAN networks.
Rapid expansion into the AI infrastructure market is a positive. Its newly launched AI innovation lab is also gaining strong traction. The lab already includes partnerships with major players such as AMD, Lenovo, Viavi, Keysight and Supermicro. Such growing collaboration with industry leaders is expected to drive the adoption of NOK data center switches and increase its overall AI-related revenue opportunity.
Nokia is also embedding AI directly into the operation of broadband networks. The company is introducing AI agents across its Altiplano, Corteca and Broadband Easy platforms, enabling telecom operators to automate network planning, deployment, troubleshooting and customer support. Such initiatives are expected to boost its competitive edge.
Nokia owns approximately 20,000 patents, including around 7,000 patents essential to 5G technologies. Its 5G portfolio continues to gain traction among enterprise customers, supporting recurring opportunities beyond traditional carrier spending cycles. However, Nokia remains exposed to the cyclical nature of telecommunications infrastructure spending. Periods of elevated network investment are frequently followed by slower spending environments, creating variability in revenue growth.
Despite growing AI-related revenues, gaining a leadership position in the AI networking domain remains an uphill task for Nokia due to the presence of strong players such as Arista and HPE. Nokia also generates substantial revenue across international markets and remains exposed to economic slowdowns, political uncertainty, regulatory changes and geopolitical disruptions.
End NoteNokia remains positioned to benefit from increasing demand for next-generation connectivity, given the breadth of its end-to-end portfolio. Growing collaboration with industry leaders and customer wins are positive factors. A comprehensive patent portfolio will likely propel further customer acquisition. However, stiff competition, softness in the mobile infrastructure market and fluctuating spending patterns by telecom players are headwinds. Geopolitical unrest and forex volatility are concerning. Hence, with a Zacks Rank 3 (Hold), Nokia is treading in the middle of the road, and new investors should remain cautious. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nokia rozšiřuje 5G spolupráci s Taiwan Mobile, aby urychlila přechod k AI-native sítím v Tchaj-wanu. Dohoda má zvýšit kapacitu, automatizaci i energetickou efektivitu sítě.
Nokia and Taiwan Mobile extend 5G partnership to advance AI-powered networks
Nokia's AirScale portfolio and AI-driven software power Taiwan Mobile's 5G network modernization for enhanced performance, automation, and sustainability.New collaboration leverages AI across network intelligence, infrastructure, energy management and resilience to enable advanced 5G services and monetization. 14 July 2026
Espoo, Finland – Nokia today announced it has signed a 5G expansion agreement with Taiwan Mobile to accelerate the evolution toward AI-native mobile networks across Taiwan. The agreement reinforces Nokia’s role as a trusted long-term partner and supports Taiwan Mobile’s goals of enhancing network performance, automation, and sustainability.
Under the agreement, Nokia will deploy its latest AirScale portfolio, including next-generation baseband and radio solutions, alongside advanced software capabilities to enhance Taiwan Mobile’s existing network infrastructure and enable new 5G services and monetization opportunities. The partnership builds on the companies' shared vision of integrating artificial intelligence across mobile networks to create highly automated, resilient and energy-efficient networks capable of supporting the increasing AI traffic.
Driving AI across the network lifecycle
The deployment introduces a comprehensive set of AI-driven capabilities spanning network intelligence, infrastructure, sustainability and resilience:
AI for Network (Intelligence): Nokia will introduce AI-powered software that enables real-time automation and predictive analytics, enhancing operational efficiency and enabling closed-loop network assurance. The agreement includes Predictive Hardware Analytics (PHWA) service and our self-organizing networks solution, MantaRay SON, which uses AI algorithms to automate operations and enhance performance.Network for AI (Infrastructure): Nokia’s next-generation baseband and advanced radio solutions will increase network capacity and uplink performance to meet the demands of new traffic profiles generated by AI applications while delivering superior user experiences.
AI for Energy (Sustainability): Advanced AI-powered energy management algorithms will enable traffic-aware optimization and proactive power savings, helping Taiwan Mobile reduce energy consumption and meet its ESG targets.
AI for GeoStrategy (Resilience): AI-enabled self-healing and traffic steering capabilities will strengthen network resilience, allowing the network to dynamically adapt to changing conditions and maintain service continuity, including in extreme scenarios. Enabling automation, performance, and new services
The new deal will expand 5G capacity and optimize network performance through the deployment of advanced radios and next-generation baseband solutions. These upgrades will support enhanced throughput, improved spectrum efficiency and the delivery of premium user experiences. In parallel, the integration of AI-driven network management and automation solutions will enable predictive maintenance, reduce operational complexity and lower total cost of ownership while supporting the introduction of new 5G capabilities such as slicing and RedCap.
Supporting sustainability and long-term network evolution
Nokia’s energy-efficient hardware combined with AI-driven software will help Taiwan Mobile reduce power consumption and enable more sustainable network operations. This supports the operator’s ambition to build a low-carbon, high-efficiency network while improving overall operational performance.
“We are extending our long-standing partnership with Taiwan Mobile, helping accelerate its journey toward AI-native networks. Our advanced radio and baseband solutions and AI-driven software deliver intelligent automation, enhanced performance and improved energy efficiency, setting the foundation for 5G-Advanced and beyond. The future-ready network enables Taiwan Mobile to deliver increasing volumes of AI traffic, provide new types of services and progress toward its sustainability targets,” said Mark Atkinson, Head of RAN at Nokia.
Jamie Lin, President of Taiwan Mobile, said: “Our collaboration with Nokia is a key pillar in our strategy to build a high-performance, resilient and sustainable network that powers our fast-growing and ever-expanding Telco+Tech businesses. By integrating AI across our network for better energy optimization, resilience and service innovation, we are creating a platform that supports next-generation applications delivered with industry-leading experiences for our customers. This long-term partnership that focuses on win-win enables us to accelerate our leadership position as the go to partner in AI era and unlock new exponential growth opportunities.”
Multimedia, technical information and related news
Product Page: AirScale Radio Access
Product Page: MantaRay SON
Product Page: AI-RAN
About Nokia
Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, we’re advancing connectivity to secure a brighter world.
Nokia získala zakázku od Orange Belgium jako jediný dodavatel pro modernizaci transportní infrastruktury a sjednocení pevných i mobilních sítí. Akcie NOK přesto v předobchodní fázi klesly o 3,92 % na 12,02 USD.
Nokia stock is among today’s weakest performers. Why are NOK shares down? What Is Nokia’s Catalyst with Orange Belgium?Orange Belgium has selected Nokia as the sole supplier to modernize its transport infrastructure by converging fixed and mobile networks into a unified optical transport network across Belgium, using Nokia’s AI-powered WaveSuite automation platform. The multi-year build is designed to improve resilience, security, and scalability as bandwidth demand rises from AI, remote work, video streaming, gaming, and cloud services.
Nokia is also leaning into automation partnerships that traders are treating as a "prove-it" pipeline for incremental orders, with its Autonomous Networks Fabric positioned around "Level 4" autonomy and targeted for availability later this year. In parallel, Nokia is building six Gemini-powered agents aimed at telecom workflows, with a claim that troubleshooting time can drop 50% to 80%.
NOK Technical Analysis: Key Levels To WatchThe bigger-picture trend is still constructive after a 143.86% run over the past 12 months, and the stock remains well above its longer-term baselines (about 8.8% above the 100-day SMA and about 39.9% above the 200-day SMA). But the near-term tape is clearly in "pullback mode," with shares trading about 11.8% below the 20-day SMA and about 12.5% below the 50-day SMA.
The moving-average stack is mixed: the 20-day SMA is below the 50-day SMA (a bearish near-term crossover), while the 50-day SMA remains above the 200-day SMA (the golden cross that occurred in October 2025 is still intact). That combination often reads as a longer-term uptrend that’s cooling off and trying to find a new base.
For momentum, MACD is below its signal line and the histogram is negative, which points to fading upside pressure versus the prior upswing unless buyers can reclaim key moving averages. In plain terms, MACD compares faster and slower trend signals—when it’s below the signal line, momentum is typically weakening rather than building.
Key Support: $10.00 — a nearby round-number level that can act as a decision point if the pullback extends What Is Nokia’s Business Model?Nokia is a networking equipment vendor focused primarily on supporting wireless networks and, to a growing extent, Internet Protocol and optical systems. It operates across mobile infrastructure (wireless core and enterprise wireless), network infrastructure (IP, optical, and fixed-network gear like routing/switching and fiber access), and a portfolio segment that houses businesses viewed as less central longer term.
That mix matters for the Orange Belgium win because it’s directly tied to optical transport and automation—areas where carriers are trying to simplify operations while scaling capacity. The project’s stated support for traffic from 1G to 400G and beyond also fits the broader push to upgrade backbone networks for AI-era bandwidth needs.
Nokia Benzinga Edge Rankings OverviewBelow is the Benzinga Edge scorecard for Nokia, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Nokia’s Benzinga Edge signal reveals a momentum-led profile with supportive quality, but only middling value. For longer-term bulls, the setup is most compelling if the stock can stabilize above key support and then work back toward the 50-day area without breaking the longer-term uptrend.
NOK Price Action: Tuesday Premarket ActivityNOK Stock Price Activity: Nokia shares were down 3.92% at $12.02 during premarket trading on Tuesday, according to Benzinga Pro data.
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Nokia získala víceletou zakázku jako jediný dodavatel pro modernizaci transportní sítě Orange Belgium. Nasadí platformu 1830 PSS a AI software WaveSuite pro sjednocenou optickou síť.
Key Takeaways Nokia will be the sole supplier for Orange Belgium's large-scale transport network modernization.NOK will merge Orange Belgium's fixed and mobile transport systems into one converged optical network.Nokia will deploy 1830 PSS and AI-powered WaveSuite to boost speeds, reliability and service delivery. Nokia Corporation (NOK - Free Report) has secured a multi-year contract with Orange Belgium to upgrade the latter’s transport network, strengthening its position in advanced telecom infrastructure and optical networking. The deal expands Nokia’s role in supporting high-capacity connectivity as demand rises from AI, cloud computing, 5G, streaming, gaming and remote work.
Under the agreement, Nokia will serve as the sole supplier for Orange Belgium’s large-scale network modernization project. The company will combine the operator’s fixed and mobile transport systems into a converged optical network, improving efficiency, resiliency and service readiness for future high-bandwidth services.
Nokia will deploy its 1830 Photonic Service Switch platform (PSS), supporting speeds from 1G to 400G and beyond for faster and more reliable data transmission across Belgium. It will also provide its AI-powered WaveSuite automation software to simplify network management, improve operational performance and speed up service delivery.
With global telecom operators accelerating next-generation infrastructure investments, Nokia is likely to capitalize on growing modernization opportunities, supporting its long-term growth prospects.
How Are Competitors Performing in the Networking Ecosystem?Nokia faces stiff competition from Ericsson (ERIC - Free Report) and Cisco Systems, Inc. (CSCO - Free Report) . Ericsson is focusing on 5G, network slicing, AI-driven networks and future 6G development. It is expanding private 5G solutions for enterprises. Ericsson is expanding Open Radio Access Network and automation capabilities across global markets.
Cisco is expanding its AI-ready networking solutions to support growing enterprise data traffic. The company is enhancing secure networking through automation and cloud-managed infrastructure. Cisco is investing in high-speed switching, routing and data center connectivity technologies.
NOK’s Price Performance, Valuation & EstimatesNokia shares have soared 132.5% over the past year compared with the industry’s 40.1% growth.
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From a valuation standpoint, Nokia trades at a forward price-to-sales ratio of 2.78, below the industry tally of 5.07.
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Earnings estimates for 2026 have remained static at 40 cents over the past 60 days, while those for 2027 have also increased 2.1% to 49 cents.
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Nokia currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nokia rozšiřuje spolupráci s Amazonem na provoz Autonomous Networks Fabric na AWS a zároveň s Alphabetem vytváří šest agentů pro telekomunikační workflow. Akcie jsou v krátkodobém ochlazení, i když dlouhodobý trend zůstává býčí.
Here is a breakdown of what is driving Thursday’s market action.
Nokia shares are showing limited movement. What should traders watch with NOK? What Is Driving Nokia’s Recent Collaborations?Nokia’s latest headline is an expanded collaboration with Amazon to run its Autonomous Networks Fabric on AWS, positioning the offering around "Level 4" autonomy for telecom operators and targeting product availability later this year.
In parallel, the company is also building six Gemini-powered agents with Alphabet aimed at telecom workflows, with an efficiency claim that troubleshooting time can drop 50% to 80%.
With futures green, Nokia’s slightly red print reads more like a pause after a big move than a risk-off wave, especially as traders wait to see whether the AI-automation narrative translates into sustained orders and margin mix. In that setup, the chart tends to matter more than the headline, because it defines where dip-buyers are likely to defend the trend.
Nokia Stock: Key Technical Levels to WatchThe longer-term trend still leans bullish, with the stock up 148.27% over the past 12 months and still trading 17.1% above its 100-day SMA ($11.00) and 50.6% above its 200-day SMA ($8.56). The golden cross from October 2025 (50-day SMA above the 200-day SMA) remains intact, which often keeps buyers interested on pullbacks as long as price holds well above those longer baselines.
Near-term, the stock is in a cooling phase: it’s trading 8.8% below the 20-day SMA ($14.14) and 6% below the 50-day SMA ($13.71), even though the 20-day SMA is still above the 50-day SMA (a constructive alignment). That combination usually says "trend up, momentum cooling," and it puts extra focus on whether price can reclaim the 50-day area to signal demand is returning.
For momentum, MACD is the cleaner read right now: it’s below its signal line and the histogram is negative, which points to upside pressure fading versus the prior upswing. In plain terms, MACD compares faster and slower trend momentum, and being below the signal line often means rallies can struggle until momentum improves.
Key Resistance: $15.00 — a round-number ceiling where rebounds can stall, especially after the stock has been trading below its 20-day and 50-day averages What Does Nokia Corporation Do?Nokia is a networking equipment vendor focused primarily on supporting wireless networks and, to a growing extent, Internet Protocol and optical systems. It operates across mobile infrastructure (wireless core and related software), network infrastructure (IP routing/switching, optical, and fixed-network gear), and a portfolio business that houses areas the company views as less central long term.
That business mix is why the AWS and Google Cloud angles matter: pushing autonomous networking and AI-driven operations deeper into carrier workflows can shift the story toward more software-led efficiency and services pull-through, not just hardware cycles. For the stock, the key question is whether these partnerships drive durable operator adoption quickly enough to re-accelerate momentum after the recent digestion.
Nokia Earnings Preview: What Analysts ExpectLooking further out, the next major catalyst for the stock arrives with the July 23, 2026 (confirmed) earnings report.
EPS Estimate: 7 cents (Up from 4 cents YoY) Revenue Estimate: $5.59 Billion (Up from $5.15 Billion YoY) Valuation: P/E of 81.0x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $14.67. Recent analyst moves include:
JP Morgan: Overweight (Raises Target to $21.00) (June 12) Argus Research: Upgraded to Buy (Target $15.00) (April 27) Morgan Stanley: Initiated with Overweight (Target $8.00) (Feb. 9) How $1,000 in Nokia Would Have GrownA $1,000 investment in Nokia Corporation on July 2, 2021, would have grown to $2,404 by July 1, 2026 — a 140.4% return over the period, excluding dividends. The stake swung between $559 and more than $3,000, ending well below its 2026 peak.
The ride included a deep slump before the rebound: the position hit its period low on December 5, 2023, and later reached its period high on June 2, 2026. From peak to trough, the maximum drawdown over the five-year holding period was -52.7%. Along the way, the $1,000 stake was $847 on July 5, 2022, $790 on July 3, 2023, $724 on July 2, 2024, and $968 on July 2, 2025.
On an annualized basis, Nokia Corporation returned 19.2% over the period, ahead of the S&P 500’s 11.6% annualized gain. It also outpaced the Nasdaq 100, which returned 15.3% annualized.
Today, Nokia Corporation has a market capitalization of about $71.4 billion. The stock’s P/E ratio is 81.0, and it offers a dividend yield of 1.27%.
Nokia Benzinga Edge Rankings OverviewBelow is the Benzinga Edge scorecard for Nokia, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Nokia’s Benzinga Edge signal reveals a momentum-led profile with supportive quality, which fits a stock that’s still in a longer-term uptrend but cooling in the short term. If momentum reasserts and price can work back toward key moving averages, the setup improves; if not, traders may keep treating rallies as sellable until the trend firms up again.
Nokia Stock Price Movement in Premarket TradingNOK Stock Price Activity: Nokia shares were down 0.31% at $12.87 during premarket trading on Thursday, according to Benzinga Pro data.
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Nokia v 1. čtvrtletí 2026 zvýšila tržby z AI a cloudu o 49 % a získala zakázky v hodnotě 1 miliardy eur. Firma zároveň rozšiřuje AI networking prostřednictvím Google Cloud, AWS a investic v USA.
Key Takeaways Nokia's AI & Cloud revenues rose 49% in Q1 2026, with 1 billion euro in orders highlighting strong demand.NOK is expanding AI networking through Google Cloud, AWS and U.S. manufacturing investments.Nokia faces telecom weakness, higher AI spending, intense competition and geopolitical risks. Nokia Corporation (NOK - Free Report) shares have gained 105.2% year to date compared with the industry’s growth of 27.8%. The stock has outperformed the Zacks Computer & Technology sector and the S&P 500 during the same time frame.
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The company has outperformed its peers like Arista Networks, Inc. (ANET - Free Report) and Ericsson (ERIC - Free Report) . Shares of Ericsson have jumped 15.5%, and shares of Arista have gained 29.6%.
NOK Rides on Strength in Multiple DomainsThe AI and Cloud networking business is becoming a major growth engine for Nokia. AI data centers require massive optical interconnects, IP routing and cloud networking infrastructure. The market is expected to grow at a substantial rate in the upcoming quarters. Recognizing this trend, Nokia is positioning itself as a major player in the AI data center domain and moving beyond merely a telecom equipment vendor.
During the first quarter of 2026, AI & Cloud revenue surged 49% year over year. The company secured €1 billion of AI & Cloud orders during the quarter, highlighting robust customer demand. The company expects the addressable AI & Cloud market to grow at a 27% CAGR between 2025 and 2028, up from its previous estimate of 16%.
Optical Networks remains Nokia's fastest-growing infrastructure segment. Growing AI cluster buildout by hyperscalers is driving demand for high-capacity optical transport networks. Nokia won several AI-related design wins for optical pluggables and line systems. A book-to-bill ratio well above one indicates strong order intake.
The company recently expanded its partnership with Google Cloud by embedding Gemini-powered AI agents into the Nokia Assurance Center. The AI agents automate network troubleshooting, anomaly detection, root cause analysis and network optimization. Such features significantly reduce network operators' maintenance costs and downtime and improve efficiency. It has also expanded its partnership with AWS. This brings capabilities such as AI-powered orchestration, digital twin simulations, intent-based networking and agentic AI operations. Unlike hardware, network automation software generates higher margins and recurring revenue. Expansion of the software mix can improve profitability over time.
Nokia is expanding its U.S. semiconductor advanced test and packaging operations. AI infrastructure demand is outpacing supply. The expansion initiative is a part of a broader $4 billion U.S. investment in AI-ready networking. This will allow NOK to meet increasing customer demand and boost its competitive edge against other major AI networking rivals such as Arista and HPE.
Major Challenges for NOKDespite growth in its AI and cloud business, Nokia still derives the majority of its revenues from the legacy telecom business. High debt levels and slow subscriber additions are making telecom operators cautious regarding their spending decisions. NOK’s North America business continued to experience weakness due to the loss of a major contract in late 2023.
To capture AI demand, Nokia is increasing capital spending. These investments increase near-term costs. Moreover, Nokia faces strong competition from other major players, such as ANET and HPE, in this vertical. It is to be seen how Nokia can navigate this growing competition in the AI networking space and generate sustained returns on investments. In its traditional mobile infrastructure business, it faces competition from Ericsson.
Nokia remains exposed to the cyclical nature of telecommunications infrastructure spending. Periods of elevated network investment are frequently followed by slower spending environments, creating variability in revenue growth. It generates substantial revenues across international markets and remains exposed to economic slowdowns, political uncertainty, regulatory changes and geopolitical disruptions. These factors can affect customer spending decisions, supply chains and project timing.
Estimate Revision TrendEarnings estimates for the company for 2026 have remained unchanged, while for 2027, they have improved over the past 60 days.
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Key Valuation Metric of NOKFrom a valuation standpoint, NOK is currently trading at a discount compared to the industry. Going by the price/earnings ratio, the company’s shares currently trade at 29.85 forward earnings, lower than 32.19 for the industry but above its mean of 16.85.
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End NoteNokia is benefiting from strong traction in the optical networking vertical. Collaboration with industry leaders such as Google and AWS will propel innovation. Manufacturing capacity expansion to support growing customer demand in the AI networking space is a positive factor. However, the company faces stiff competition in the mobile infrastructure and AI networking markets. Growing geopolitical volatility and macro headwinds remain a concern. With a Zacks Rank #3 (Hold), Nokia appears to be treading in the middle of the road, and new investors could be better off if they trade with caution. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nokia rozšiřuje spolupráci s AWS na autonomních sítích pro éru AI, s dostupností produktu později v letošním roce. Akcie v premarketu klesly o 3,79 % na 13,45 USD.
Nokia stock is among today’s weakest performers. Why is NOK stock falling? What Is Driving Nokia’s AWS Collaboration?Nokia’s latest catalyst is the expanded AWS collaboration aimed at "autonomous networks built for the AI era," with its Autonomous Networks Fabric set to run on AWS so telecom operators can move more of their operational stack into the cloud. The companies are positioning the integration around Level 4 autonomy using AI and cloud services, with product availability expected later this year.
Nokia’s pitch leans on unifying data management, agentic AI, digital twin simulations, and intent-based networking to drive "step-change efficiency," with the company’s CTO for AI and Autonomous Networks saying, "This is how telcos will compete in the AI era."
Nokia also has a separate AI-automation thread running through its Google Cloud partnership, where it’s building six specialized Gemini-powered agents for telecom workflows like event triage, anomaly detection, KPI analysis, and remediation recommendations. The companies said the system can cut troubleshooting times 50% to 80%, a concrete efficiency claim that can influence how investors model software-led margin upside.
Nokia Stock: Key Technical Levels To WatchEven with the premarket dip, the longer-term trend still leans bullish: the stock is up 170.93% over the past 12 months and remains well above its 100-day SMA ($10.75) and 200-day SMA ($8.39). The golden cross that formed in October 2025 (50-day SMA above the 200-day SMA) is still intact, which often keeps dip-buyers engaged as long as price holds near those longer averages.
Near-term, the chart looks more like a digestion phase than a breakdown, with price at $13.45 sitting just under the 50-day SMA ($13.49) and below the 20-day SMA ($14.69). That matters because the 20-day SMA is still above the 50-day SMA (a bullish alignment), but the stock needs to reclaim the short-term average to signal that buyers are taking control again.
RSI is the cleaner momentum read right now: at 48.90, it’s neutral and suggests the prior upside momentum has cooled rather than flipped into an oversold washout. In plain terms, RSI helps gauge whether a move is getting stretched, and this reading points to balance—neither panic selling nor overheated buying.
Key Resistance: $15.00 — a round-number ceiling that lines up with a nearby rebound-stall zone if the stock tries to bounce back above its short-term averages – Key Support: $13.00 — a nearby floor that sits close to the 50-day moving-average area where trend buyers often defend pullbacks
What Does Nokia Corporation Do?Nokia is a networking equipment vendor focused primarily on supporting wireless networks and, to a growing extent, Internet Protocol and optical systems. The firm operates three segments spanning mobile infrastructure (wireless core and related software), network infrastructure (IP routing/switching, optical, and fixed-network gear), and a portfolio bucket of businesses it views as less central longer term.
That mix is why the AWS tie-up matters to the stock narrative: it’s aimed at pushing more telecom operations into the cloud while layering in AI-driven automation (including agentic AI, digital twin simulations, and intent-based networking). If operators adopt that approach, it can support a more software- and services-oriented angle alongside the company’s traditional hardware footprint.
Nokia Earnings Preview: July 2026 EstimatesLooking further out, the next major catalyst for the stock arrives with the July 23, 2026 (confirmed) earnings report.
EPS Estimate: 7 cents (Up from 4 cents YoY) Revenue Estimate: $5.59 Billion (Up from $5.15 Billion YoY) Valuation: P/E of 87.8x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $14.67. Recent analyst moves include:
JP Morgan: Overweight (Raises Target to $21.00) (June 12) Argus Research: Upgraded to Buy (Target $15.00) (April 27) Morgan Stanley: Initiated with Overweight (Target $8.00) (Feb. 9) Nokia Benzinga Edge Rankings OverviewBelow is the Benzinga Edge scorecard for Nokia, highlighting its strengths and weaknesses compared to the broader market:
The Verdict: Nokia’s Benzinga Edge signal reveals a momentum-led setup with supportive quality, but a less forgiving valuation backdrop. For longer-term bulls, the key is whether the stock can hold the $13.00 area and rebuild strength back toward $15.00 without losing the 50-day trend zone.
Nokia Stock Price Action in Premarket TradingNOK Stock Price Activity: Nokia shares were down 3.79% at $13.45 during premarket trading on Friday, according to Benzinga Pro data.
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Nokia a AWS rozšiřují spolupráci, aby operátorům nabídly autonomní sítě pro éru AI a přesunuly celý provozní stack do cloudu. Dostupnost se očekává později letos.
Press Release
Nokia, Amazon Web Services expand collaboration to deliver autonomous networks built for the AI era
Leveraging AWS’s AI and cloud services, Nokia’s Autonomous Network Fabric will help operators transition to networks that operate at machine speed to connect intelligence. 24 June 2026
Espoo, Finland — Nokia and Amazon Web Services (AWS) today announced they are expanding their collaboration to deliver autonomous networks built for the AI era, making it easier for telecommunication providers to run their full operational stack in the cloud.
Nokia and AWS are collaborating to run Nokia’s Autonomous Networks Fabric on AWS, giving operators access to advanced AI and cloud services required for Level 4 autonomy. This builds on a set of existing digital operations applications from Nokia — covering orchestration, assurance, and unified inventory — already on the platform. Availability is expected later this year.
Nokia’s Autonomous Network Fabric weaves together a broad portfolio that delivers intent-based service orchestration across multi-domain, multi-vendor networks; provides 360-degree observability with AI-powered anomaly detection, root cause analysis, and closed-loop resolution; and offers a single source of truth for network topology and resources.
The Fabric unifies observability, analytics, security, and automation through four core capabilities:
Unified Data Management across domains.Agentic AI for service operations and optimization.Digital Twin simulations for proactive impact assessment.Intent-Based Networking that translates business goals into automated closed-loop actions. ‘This is how telcos will compete in the AI era’
While legacy network management tools require teams of experts to manually oversee mobile, fixed, and transport networks in silos, Nokia helps operators evolve from static infrastructures to programmable, AI-native platforms that anticipate changing traffic mixes and operate at machine speed to connect intelligence.
“Autonomous networks have gone from far-off vision to business imperative. At Nokia, we move operators toward greater autonomy through the convergence of intent-based networking, agentic AI, and cloud-native architecture. Together with AWS, we’re building a platform that scales operators’ ambitions while maintaining the control and governance they need. This is how telcos will compete in the AI era,” said Oguz Sunay, CTO, AI and Autonomous Networks, Nokia.
Running on AWS, Nokia’s solutions gain elastic scalability, global availability, and broad model choices through cloud AI and ML services — including Amazon Bedrock and Amazon SageMaker — enabling operators to innovate faster while reducing infrastructure costs. Nokia is also engineering an optimized cloud footprint that minimizes compute and storage requirements versus traditional on-premises deployments.
“The shift to autonomous network operations is ultimately about speed and step-change efficiency. Speed to detect, speed to resolve, speed to monetize. Achieving step-change cost efficiency is critical for customers to unlock agentic value in the AI era. Nokia’s decision to optimize its full operational stack on AWS means operators can take advantage of elastic scalability, purpose-built AI and ML services, and the most extensive global infrastructure footprint for wherever their networks operate. Together, we're compressing years of transformation into months, delivering step-change improvements in cost efficiency and revenue growth,” said Amir Rao, global director for Telco Solutions at AWS.
Cloud-based network innovation
Today’s news is the latest in a series of announcements between Nokia and AWS related to cloud-based network innovation. At MWC in March, the companies showcased the industry’s first agentic AI-powered network slicing alongside du and Orange. In February, they announced the world’s first commercial mobile service on 5G Core SaaS, running on Belgium’s Citymesh network.
In addition to these developments, Nokia’s autonomous networks portfolio is already delivering measurable results, with operators achieving automation rates exceeding 90%, service delivery times of four hours or less, and service interruption periods of one minute per year or fewer — along with up to 85% reduction in slice rollout time and up to 50% fewer customer-impacting incidents.
Nokia and AWS are committed to a collaborative innovation agenda that combines Nokia’s telecom-trained AI models and domain expertise with AWS’s AI services to deliver increasingly autonomous network operations. Together, the companies will go to market to help operators evolve their operational stacks, increase autonomous operations and unlock new revenue streams.
Multimedia, technical information and related news
Web Page: Autonomous Networks
Product Page: Digital Operations Center
Press release: Nokia and AWS showcase industry-first agentic AI-powered network slicing with du and Orange #MWC26
Press release: Citymesh goes live with world’s first commercial mobile service on 5G Core SaaS, powered by Nokia and AWS
About Nokia
Nokia is a global leader in connectivity for the AI era. With expertise across fixed, mobile, and transport networks, we're advancing connectivity to secure a brighter world.
About Amazon Web Services
Amazon Web Services (AWS) is guided by customer obsession, pace of innovation, commitment to operational excellence, and long-term thinking. By democratizing technology for nearly two decades and making cloud computing and generative AI accessible to organizations of every size and industry, AWS has built one of the fastest-growing enterprise technology businesses in history. Millions of customers trust AWS to accelerate innovation, transform their businesses, and shape the future. With the most comprehensive AI capabilities and global infrastructure footprint, AWS empowers builders to turn big ideas into reality. Learn more at aws.amazon.com and follow @AWSNewsroom.
Nokia po akvizici Infinery těží z rostoucí poptávky po optických sítích pro AI datová centra. V 1. čtvrtletí vzrostly tržby od AI a cloud zákazníků o 49 % meziročně.
Nokia (NOK 0.66%) shares have climbed 175% over the past year. This followed its February 2025 acquisition of Infinera, extending its capabilities in optical networking, which is seeing growing demand from data centers that need faster data transmission for artificial intelligence (AI).
Despite the stock's monster run, Nokia is just getting started with its pivot to tackle this opportunity. Wall Street is still catching up to the new reality of this networking infrastructure leader, particularly what this could do to earnings growth. Here's why it's not too late to consider buying the stock.
Image source: Getty Images.
Accelerating growth in AI Nokia has quietly turned itself into a vertically integrated powerhouse of optical networking products, including owning a manufacturing facility in San Jose, California, that produces the indium phosphide material used to make optical semiconductors. AI data center demand is soaring for advanced digital signal processors and pluggable optics, such as 800G coherent optics, with industry forecasts pointing to a multibillion-dollar opportunity over the long term.
The opportunity is already showing up in Nokia's latest quarterly results. In the first quarter, Nokia reported total sales growth of just 4%, but the real story was the 49% year-over-year increase in net sales from AI and cloud customers. Sales in its optical networks segment alone grew 20%.
This statement from CEO Justin Hotard suggests this is just the beginning: "We are increasing our growth assumption for Optical and IP Networks, and we are investing to capture accelerating demand from AI and cloud customers."
Today's Change
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The big picture Nokia is tapping into a big tailwind. The Motley Fool's research found that leading hyperscalers plan to increase capital spending by at least 45% this year, bringing total spending to at least $600 billion. A significant portion of this spending goes to support additional AI infrastructure and data centers.
The company sees its AI and cloud addressable market growing at an annualized rate of 27% through 2028. It faces competition from Ciena, Arista Networks, and Cisco Systems, but the Infinera acquisition was a game changer. It has significantly boosted Nokia's competitive standing in the networking infrastructure market, specifically in meeting demand for AI data centers.
Usually, when companies are transitioning their business strategy, like Nokia is doing now, it can take Wall Street a few years to catch on and fully re-rate the stock. The one thing that Wall Street might still be underestimating is future earnings, as Nokia shifts its sales mix toward high-margin advanced optical chips.
Analysts forecast Nokia's earnings will nearly double from 2025 levels by 2028. That's enough growth to push the stock higher. It's not cheap, but trades at a reasonable forward price-to-earnings multiple for a growth stock, about 35, based on this year's estimate.
John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Arista Networks, Ciena, and Cisco Systems. The Motley Fool has a disclosure policy.
