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Here's Why Nokia (NOK) is a Promising Pick for Investors
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Shares of Nokia Corporation (NOK - Free Report) have gained 27.1% in the past six months compared with 1.2% growth of the industry. Currently, the stock carries a Zacks Rank #2 (Buy) and has a VGM Score of A.
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This Finland-based company delivered a trailing four-quarter earnings surprise of 215.2%, on average. The Zacks Consensus Estimate for its current-year earnings has been revised 26.1% upward over the past 30 days.
Growth Drivers
Nokia provides mobile and fixed network solutions worldwide. The company operates through four segments — Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. Particularly, the Network Infrastructure business group is benefiting from the increasing demand for next-generation connectivity.
Nokia is on track to achieve sustainable, profitable growth and technology leadership. The company is well positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Also, it plans to expand its business into targeted, high-growth vertical markets.
Nokia has been developing its 5G portfolio, strengthening AirScale and advancing the capabilities of the ReefShark chipset. The company aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments.
Nokia currently has 165 commercial 5G deals with communications service providers. Its 5G portfolio is also gaining traction among enterprise customers that make up about 12% of 5G deals.
Nokia is focused on its strategy that hinges on four priorities. The first priority is to lead in high-performance end-to-end networks with its communications service provider customers. The second one is based on its relentless pursuit to expand network sales to select vertical markets. Building a strong standalone software business is the third priority. The fourth pillar aims to create new business and licensing opportunities in the consumer ecosystem.
Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. The company intends to accelerate strategy execution, sharpen customer focus and reduce long-term costs. We believe that the stock has more upside left.
Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average.
Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.
Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.
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In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
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Here's Why Nokia (NOK) is a Promising Pick for Investors
Shares of Nokia Corporation (NOK - Free Report) have gained 27.1% in the past six months compared with 1.2% growth of the industry. Currently, the stock carries a Zacks Rank #2 (Buy) and has a VGM Score of A.
This Finland-based company delivered a trailing four-quarter earnings surprise of 215.2%, on average. The Zacks Consensus Estimate for its current-year earnings has been revised 26.1% upward over the past 30 days.
Growth Drivers
Nokia provides mobile and fixed network solutions worldwide. The company operates through four segments — Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. Particularly, the Network Infrastructure business group is benefiting from the increasing demand for next-generation connectivity.
Nokia is on track to achieve sustainable, profitable growth and technology leadership. The company is well positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Also, it plans to expand its business into targeted, high-growth vertical markets.
Nokia has been developing its 5G portfolio, strengthening AirScale and advancing the capabilities of the ReefShark chipset. The company aims to accelerate its product roadmaps and cost competitiveness through additional 5G investments.
Nokia currently has 165 commercial 5G deals with communications service providers. Its 5G portfolio is also gaining traction among enterprise customers that make up about 12% of 5G deals.
Nokia is focused on its strategy that hinges on four priorities. The first priority is to lead in high-performance end-to-end networks with its communications service provider customers. The second one is based on its relentless pursuit to expand network sales to select vertical markets. Building a strong standalone software business is the third priority. The fourth pillar aims to create new business and licensing opportunities in the consumer ecosystem.
Nokia facilitates its customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation needed to support dynamic operations, reduce complexity and improve efficiency. The company intends to accelerate strategy execution, sharpen customer focus and reduce long-term costs. We believe that the stock has more upside left.
Other Key Choices
Some other top-ranked stocks that investors may consider are Cambium Networks Corporation (CMBM - Free Report) , Altice USA, Inc. (ATUS - Free Report) and Vicor Corporation (VICR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average.
Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.
Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.
Zacks' Top Picks to Cash in on Artificial Intelligence
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>