Market Performance of Nokia and IBM
Investors who previously lost faith in companies like Nokia, BlackBerry, Ericsson, or Cisco Systems missed their recent rally. Notably, Nokia's stock gained over 60% from its 52-week low, with a 9.7% increase last week following its quarterly report.
Nokia is now being viewed by stock markets as a supplier of AI and cloud services. The company's network infrastructure segment saw an 11% growth in net sales during the third quarter, with Optical Networks experiencing a 19% growth due to demand from AI and Cloud customers, as stated by CEO Justin Hotard.
According to CEO Justin Hotard, the growth in Optical Networks was thanks to AI and Cloud customers.
Nokia's venture fund investments are forecasted to add EUR 0.1 billion to its operating profit, with a full-year profit forecast of EUR 1.7 billion to 2.2 billion.
In contrast, IBM's stock initially slipped towards its 50-day moving average but then jumped by 9.31% on October 24, reaching a new 52-week high of $307.46. IBM posted a 7% revenue growth rate in Q3, with CEO Arvind Krishna noting that clients turned to the company as a trusted partner for building embedded AI and infrastructure.
Author's summary: Nokia and IBM see significant stock movements.
- Nokia's stock gained over 60% from its 52-week low.
- IBM posted a 7% revenue growth rate in Q3.