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Nokia Stock Skyrockets 25% on Nvidia’s $1B AI Bet – What’s Next for NOK Investors?
31 October 2025
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19 mins read

Nokia Stock Skyrockets 25% on Nvidia’s $1B AI Bet – What’s Next for NOK Investors?

by
  • Current Price & Surge: Nokia Oyj (NYSE: NOK) trades around $6.89 as of Oct. 31, 2025 (close) after a meteoric late-October rally [1]. The stock jumped 20–25% in a single day on Nvidia’s investment news, hitting multi-year (nearly decade) highs around $8 [2]. Year-to-date, Nokia shares are up roughly +69% amid renewed investor enthusiasm [3].
  • Nvidia’s $1B Stake:Nvidia Corp. (NVDA) agreed to invest $1.0 billion for a ~2.9% stake in Nokia (166 million new shares at $6.01 each) [4] [5]. This strategic partnership aims to accelerate AI-powered 5G/6G networks, making the U.S. a “center” of the next 6G revolution [6]. Nvidia’s CEO hailed the deal, and Nokia’s CEO expects it to start boosting revenue by 2027 [7] [8].
  • Blowout Earnings & 5G Wins: Nokia’s Q3 2025 earnings (reported Oct. 23) beat expectations, with revenue €4.83 B (+12% YoY) and operating profit €435 M vs ~€342 M expected [9]. The company raised its full-year profit outlook and cited robust optical networks and cloud demand (boosted by its Infinera acquisition) [10]. A flurry of 5G contracts – including major deals with Vodafone (Europe/Africa), a £2 B UK 5G rollout, Japan’s Rakuten, Finland’s Elisa, and others – further bolstered the growth narrative [11].
  • Analysts Turn Bullish: Wall Street reaction has been largely positive. Multiple firms upgraded Nokia and hiked targets: e.g. Jefferies to Buy (target €6.60), JPMorgan to Overweight ($7.10 target) [12], BofA doubled its target to $8.07 (from $4.64) [13] [14], and Northland raised its target to $8.50 [15]. The consensus rating is “Moderate Buy,” though prior average targets (~$5.5–$6) have rapidly trailed the stock’s surge [16] [17]. Some caution that much of the AI/5G optimism is already priced in [18] [19].
  • Technical Picture: Nokia’s chart turned bullish. Shares blasted through 52-week highs to ~$8, far above the 50-day ($6.10) and 200-day ($5.30) moving averages [20]. Momentum indicators are elevated – the 14-day RSI hit ~68–76, entering overbought territory [21] [22]. Short-term resistance is observed around $8.00–$8.20 [23], with support in the mid-$6s (recent breakout zone and 50-day MA). A brief pullback from the highs (to ~$6.9) suggests some profit-taking, but the uptrend remains intact.
  • Forecasts & Outlook: In the short term, analysts see potential for Nokia to stabilize or modestly extend gains – several project $8.5–$9+ by end of 2025 [24]. However, near-term volatility is possible as the stock digests its big move and investors weigh real 5G demand vs. AI hype. Longer-term, Nokia’s strategic pivot toward AI, cloud, and 6G could drive further upside: some forecasts envision $10+ by 2026 and $12–$15 by 2030 if Nokia executes well on next-gen networks [25] [26]. The company’s solid balance sheet (low debt) and ~3% dividend yield provide support [27] [28], but sustained success will depend on telecom spending trends and Nokia’s ability to outpace fierce competition.

Introduction

Nokia’s stock has made a stunning comeback in 2025, transforming from a sluggish telecom equipment play into a hot tech turnaround story. The Finnish networking giant saw its U.S.-listed shares skyrocket to multi-year highs in late October 2025 after a convergence of positive catalysts. A blockbuster $1B investment by Nvidia, strong quarterly results, and major 5G contract wins have reignited investor interest in Nokia (a stock that many had all but written off). As of October 31, 2025, Nokia’s ADR trades around $7 – up dramatically from barely $4 at the start of the year [29]. In this in-depth report, we break down Nokia’s recent performance, the drivers behind the rally, expert analyses of its prospects, and what to expect going forward.

Latest Stock Performance and Current Price

Nokia (NOK) Stock Price: As of market close on Oct. 31, 2025, Nokia’s New York shares stood at $6.89 [30]. (After-hours trading nudged it up slightly to about $7.17 [31], reflecting continued high interest.) This price is just off the highs reached earlier in the week when Nokia hit $7.78 on Oct. 28 [32] – a level not seen in years. In fact, the stock’s intraday peak of $8.19 on Oct. 28 marked its highest trading level in nearly a decade (last seen in early 2016) [33].

To put the October surge in perspective: Nokia jumped +20.86% on Oct. 28 alone after a major deal announcement [34]. The day prior, it closed around $6.36; a day later it was over $7.50 [35]. This capped an extraordinary month – Nokia’s U.S. shares soared roughly 40% in the final week of October [36] [37]. Year-to-date, the stock is now up about +69% (and +56% year-over-year) [38], vastly outperforming the broader market. The rally has made Nokia one of 2025’s standout tech stock comebacks.

Such explosive momentum was driven by a flurry of news that fundamentally shifted sentiment on Nokia. Below, we examine those major catalysts – from earnings to partnerships – and how they have altered the outlook for Nokia Oyj.

Q3 2025 Earnings Beat & 5G Contract Wins

One key spark for Nokia’s rise was its strong third-quarter 2025 earnings, reported on October 23, 2025. After a challenging first half of the year (including a profit warning over the summer), Nokia’s Q3 results delivered relief and upside surprises:

  • Earnings Smash Expectations: Nokia posted Q3 net sales of €4.83 billion, about +12% year-on-year, handily topping analyst forecasts (~€4.6 B) [39]. Comparable operating profit was €435 M, which blew past the consensus (~€340 M) [40]. In U.S. dollar terms, revenue was ~$5.61 B (vs. ~$4.67 B expected) and EPS came in at $0.07 (vs. $0.06 forecast) [41] [42]. CEO Justin Hotard highlighted that “AI and data center demand continues to be robust… it continues to accelerate from our perspective,” with cloud and AI-related customers now accounting for 6% of Nokia’s sales [43] [44]. These growth areas (optical networking and cloud services) were pivotal, aided by Nokia’s recent acquisition of U.S.-based optical firm Infinera which opened doors in the booming AI data-center market [45] [46].
  • Guidance Nudge: Encouraged by Q3, management raised its full-year 2025 profit guidance slightly – targeting €1.7–2.2 B operating profit (vs prior upper range €2.1 B) [47]. While the upgrade was modest (partly due to an accounting change), it signaled improved confidence that H2 2025 will outpace H1 [48]. This is a notable turnaround from July 2025, when Nokia had trimmed its outlook (from €1.9–2.4 B down to €1.6–2.1 B) amid U.S. tariffs, a weak dollar, and sluggish North American 5G spending [49]. The Q3 beat suggests those headwinds have eased or been offset by new growth streams.
  • Market Reaction: Investors cheered the earnings beat. On Oct. 23, Nokia’s NYSE-listed shares jumped ~10% by midday to around $6.10, marking their highest level in over 3 years [50] [51]. Helsinki-listed shares similarly popped ~8% to €5.20 [52]. Billions were added to Nokia’s market cap overnight. The post-earnings rally indicated renewed confidence after the earlier slump – essentially, Nokia showed it can still grow despite a tough telecom environment.
  • Big 5G Contracts: Further fueling optimism, Nokia has recently scored a string of major 5G network deals globally. In mid-October, it announced an extension of its 5G RAN partnership with Vodafone/Vodacom across Europe and Africa [53]. Around the same time, the newly merged Vodafone-Three UK venture awarded Nokia (and Ericsson) a massive £2.0 billion contract to upgrade ~7,000 sites to 5G [54] [55] – a huge win in a critical market. Nokia also inked a “green” 5G network project with Rakuten Mobile Japan using power-efficient optical transport tech to cut energy use ~24% [56]. And it expanded a core network upgrade with Elisa (Finland) to deploy 5.5G tech aimed at 20% energy savings [57]. These contracts not only promise future revenue, they demonstrate Nokia’s competitiveness in securing marquee clients across Europe, Asia, and Africa.
  • Strategic Moves: Nokia’s board also approved issuing 120 million new shares (by Oct 2025) to cover employee plans and potential acquisitions [58]. While a minor ~2% float dilution, it’s offset by a recent 150M share cancellation and indicates Nokia’s proactive use of equity for growth and talent retention [59]. Additionally, Nokia has been restructuring to cut costs – the company plans to slash up to 14,000 jobs by 2026 to save €800M–€1.2B, improving long-term margins [60]. These efficiency efforts, combined with the new contracts, suggest a leaner, more focused Nokia emerging under CEO Hotard’s leadership.

In short, by late October Nokia was firing on multiple cylinders: core business stabilizing (or growing modestly), new deals pouring in, and an increasing stake in high-tech areas like cloud/datacenter networks. The stage was set for something truly game-changing – which arrived on Oct. 28.

Nvidia’s $1B AI Partnership – “The Game-Changer”

The catalyst that sent Nokia stock into the stratosphere was the announcement of a deep alliance with Nvidia, one of the world’s most valuable chipmakers and AI computing leaders. On October 28, 2025, Nokia revealed that Nvidia will invest $1.0 billion in the company to collaborate on cutting-edge networking technology [61] [62]. Key details of this landmark deal:

  • Nvidia Takes 2.9% Stake: Nvidia is buying 166.4 million new Nokia shares at $6.01 each (roughly €5.70), equating to a 2.9% ownership [63] [64]. This will make Nvidia the second-largest shareholder of Nokia [65]. The infusion strengthens Nokia’s balance sheet with fresh capital and aligns it with a top-tier tech titan. Nokia confirmed the share issue and terms on Oct. 28, and the market immediately recognized this as a huge vote of confidence.
  • Focus on AI-Powered Networks: The partnership centers on developing AI-driven 5G and 6G infrastructure. Nvidia’s state-of-the-art GPUs and AI hardware will be used to accelerate Nokia’s software for current 5G and future 6G networks [66]. The two companies will collaborate on AI networking solutions and plan to integrate Nokia’s data center connectivity products into Nvidia’s AI computing ecosystems [67] [68]. They also announced a joint effort with T-Mobile US (majority-owned by Deutsche Telekom) to develop advanced AI-powered radio tech for 6G, with trials starting in 2026 [69] [70]. This suggests Nokia will be at the forefront of the next wireless revolution, leveraging Nvidia’s dominance in AI chips.
  • Leadership Quotes: The deal came with bold statements from both sides. Nvidia CEO Jensen Huang said the alliance will help make the U.S. “the center of the next revolution in 6G,” thanking Nokia for “helping bring telecommunication tech back to America” [71] [72]. Nokia’s CEO Justin Hotard – notably a former Intel AI executive – told Reuters he admires “the pace at which Nvidia moves” and wants Nokia to emulate that speed [73] [74]. He expects new AI-centric Nokia equipment (like AI-native base stations) to start contributing to revenue by 2027 once deployments begin [75] [76]. Industry analysts also lauded the tie-up: “This is a strong endorsement of Nokia’s capabilities,” said Paolo Pescatore of PP Foresight, noting 6G will enable new AI-powered experiences in telecom [77].
  • Market Euphoria: Nokia’s stock exploded nearly +21% on Oct. 28 after this announcement [78] [79]. It closed at $7.78 (from $6.36 the prior day) – its best level since January 2016 [80]. The surge added over €6 billion (~$7B) to Nokia’s market cap in one day [81]. Trading volumes were massive as Wall Street and retail investors piled in. Even CNBC’s Jim Cramer was astonished: “If you own Nokia, you just made 23% in one day… from $6.42 to $7.77 (intraday high $8.19). It’s incredible… It felt like the stock had been left for dead for years” [82]. The narrative flipped overnight – Nokia was suddenly viewed as an AI beneficiary and a potential key player in the 6G race, rather than a legacy 5G vendor.
  • Strategic Rationale: For Nokia, the Nvidia partnership is transformational. It bolsters Nokia’s credibility in AI and cloud domains, where it has been eager to expand. Hotard has focused on growing Nokia’s data center networking business since taking over as CEO in April 2025 [83], and this deal turbocharges that effort. Nokia, along with Ericsson, already provides high-speed connectivity gear for data centers (using Marvell chips) [84], but tying up with Nvidia could open doors to U.S. hyperscalers and AI-centric telco upgrades that were previously elusive. Citi analyst Andrew Gardiner emphasized that beyond the cash, “the Nvidia link places Nokia in a stronger position in both radio and data center/AI markets.” [85]

From Nvidia’s perspective, the benefit is clear: it ensures more Nvidia silicon will be used in next-gen telecom networks globally. Nvidia does not get exclusivity (the partnership is non-exclusive, and Nvidia simultaneously expanded an AI networking partnership with Cisco [86]), but owning a stake in Nokia aligns interests. In essence, Nokia gains an AI powerhouse partner and shareholder; Nvidia gains a foothold in telecom equipment, potentially steering an entire industry’s tech stack toward its chips.

Analyst Commentary and Market Reactions

The Nokia-Nvidia news, coupled with the earnings beat, unleashed a wave of analyst commentary – from exuberant price target hikes to a few notes of caution:

  • Upgrades and Price Target Hikes: Many sell-side analysts quickly boosted their outlook on Nokia. As noted, Jefferies upgraded NOK to Buy (from Hold) and raised its target to €6.60 (~$7) citing Nokia’s AI data center growth prospects [87]. JPMorgan reiterated Overweight and upped its target to $7.10 [88]. Bank of America made headlines by raising its target 76% (from $4.64 to $8.07), calling the Nvidia deal a “strategic inflection point” that increases Nokia’s exposure to AI-native data center switching [89] [90]. Northland Capital similarly lifted its target from $7.50 to $8.50 (Outperform rating) post-Nvidia [91]. Such dramatic revisions indicate analysts had to play catch-up to Nokia’s swiftly improving fortunes. By late October, the consensus 12-month target (per MarketBeat) had moved up to around $5.87 (a lagging figure), with undoubtedly higher revisions on the way [92] [93]. The analyst consensus rating stands at a “Moderate Buy”, with 7 Buys, 2 Holds, 1 Sell on record [94] – a tilt toward optimism.
  • Bullish Arguments: Supporters argue that Nokia is now “more than just a 5G story.” The Nvidia stake signals Nokia is seen as a valuable partner in AI and possibly a strategic asset in Western 6G development. Bloomberg’s tech analysts noted that “Nokia is quietly becoming one of the most AI-integrated telecom vendors globally.” [95] With a new U.S. ally (Nvidia) and a new CEO pushing an AI/cloud vision, Nokia could shed its stodgy image. Bulls also point to Nokia’s improving fundamentals: the company has remained consistently profitable since 2023 [96], has a strong patent portfolio (generating licensing income), and a modest debt load (debt-to-equity ~0.12 [97]). The stock still offers a dividend yield near 2.5–3% [98] [99], providing income as a buffer. In short, optimists see Nokia evolving into a hybrid telecom + tech company positioned for the AI era, while still trading at a reasonable valuation relative to that growth potential.
  • Cautious Takes – “Already Priced In?” Not everyone is fully on board. Some analysts warn that Nokia’s rally may be ahead of fundamentals. A Reuters Breakingviews commentary quipped that Jensen Huang “sprinkled a little AI magic” on Nokia, but “the near-term benefits of the deal are murky at best” [100]. The partnership is exciting, yet 6G networks won’t roll out until around 2030 and it could be years before Nokia’s earnings truly reflect this AI boost [101] [102]. Meanwhile, telecom carriers globally are slashing capex – Dell’Oro Group projects telecom spending to decline slightly over the next 3 years [103]. As Breakingviews notes, Nokia’s shareholders might be “dazzled by Nvidia’s AI hype” even though carriers currently have tight budgets [104]. In fact, one major bank, Santander, downgraded Nokia to Neutral despite the news, saying it doesn’t view the Nvidia partnership as a “game changer” and giving a price target of €6.55 (~$7.63) [105]. Competitive risks are also flagged: Nvidia is not tying itself exclusively to Nokia and is also partnering with Nokia’s rivals (e.g. Cisco) on AI networks [106]. Plus, Ericsson – Nokia’s Swedish archrival – remains formidable, having reported its own strong Q3 and big North American 5G wins earlier in October [107]. And while Huawei is constrained by sanctions in many markets, it still dominates in China – and notably, China has reportedly started curbing the use of Nokia/Ericsson gear in its networks in favor of local suppliers [108]. These factors could limit Nokia’s immediate upside.

The balanced view among analysts is that Nokia’s outlook has undeniably improved, but the stock’s quick jump means a lot of good news is now baked into the price. Further gains will require continued execution – delivering on earnings, smoothly integrating the Nvidia collaboration, and navigating the tough telecom landscape.

Fundamental Analysis: Valuation and Financial Health

From a fundamentals standpoint, how does Nokia stack up after this rally?

  • Valuation Multiples: At ~$7 per share, Nokia’s valuation isn’t stretched compared to peers, but it reflects high expectations. Based on forecast earnings, Nokia trades around 28–30 times 2026 EPS [109] and roughly 22x forward 2025 earnings (using ~$0.34 EPS consensus) [110]. This P/E in the mid-20s is similar to networking peer Cisco’s multiple [111], and higher than Ericsson’s. It suggests the market is pricing Nokia less like a slow-growth telco supplier and more like a tech firm with growth drivers. Nokia’s market cap is about $40 billion [112] [113], on ~$25B annual revenue – a Price/Sales near 1.6×. Its forward PEG (price/earnings-to-growth) will depend on how fast earnings can grow with the new AI and 5G opportunities.
  • Profitability & Margins: Nokia’s net profit margins are modest (Q3 net margin ~4.7% [114]), reflecting the competitive, low-margin nature of telecom equipment. Return on equity is in the single digits [115]. However, the company has been restructuring to improve margins (e.g. cost cuts and focusing on higher-margin software and services). The optical and cloud divisions driving recent growth tend to have better margins than traditional mobile gear [116]. If Nvidia-enabled products help Nokia sell more software or premium hardware, margins could expand over time. Nokia is also disciplined on working capital – current ratio ~1.46, indicating a stable short-term liquidity position [117].
  • Financial Health: Nokia carries relatively low debt (debt-to-equity ~0.12) [118] and had a net cash position in recent years. The $1B equity infusion from Nvidia further strengthens the balance sheet. This gives Nokia flexibility to invest in R&D (crucial for 6G) and potentially return cash to shareholders. Nokia has resumed paying dividends (approximately €0.05–€0.10 per share annually in recent years). At the current stock price, the dividend yield is around 2.5–3.0% [119], offering decent income. Overall, Nokia’s financial foundation is solid – it weathered the 5G downturn without excessive debt, and now with fresh capital and cost cuts, it’s positioned to fund growth initiatives in AI and cloud networking.
  • Peers Comparison: In the telecom gear space, Nokia’s valuation sits between Ericsson (which also saw a stock bump from a strong 2025 and trades at ~20x earnings) and pure-play tech names. Huawei is not publicly traded but looms as a competitive threat in many markets (though geopolitical factors limit its reach). Nokia’s advantage is a broad portfolio (mobile, IP routing, optical, cloud) and Western-friendly status. Its challenge is that the telecom industry’s growth is slow – global 5G rollouts are maturing, and total carrier spending is flat. This is why Nokia’s push into enterprise, cloud, and now AI/6G is critical for its long-term growth narrative.

In summary, Nokia’s fundamentals are improving but still have room to catch up to its stock price momentum. The company’s valuation now bakes in an expectation that Nokia will successfully reinvent itself as an AI-driven network player. Delivering consistent earnings growth in coming quarters (beyond just one good Q3) will be key to justify the higher multiple. The good news is Nokia has the cash, partners, and strategy to attempt exactly that.

Technical Analysis – Momentum and Levels to Watch

Nokia’s stock chart has undergone a bullish metamorphosis in 2025, especially in the past month. Here’s a look at the technical setup:

  • Trend and Moving Averages: Nokia is in a strong uptrend. Throughout Q3 2025, it steadily climbed from the mid-$4s to mid-$5s, and then accelerated in October. The 50-day moving average (MA) is around $6.10 – significantly below the current price, reflecting the recent spike [120]. The 200-day MA near $5.30 also lags well behind [121]. All major moving averages are sloping upward, and in mid-October investing algorithms rated Nokia a “Strong Buy” on technicals [122]. The wide gap above the 50/200 MAs does indicate the stock may be overextended short-term, but these MAs will now act as support on any pullbacks (with $6.10 as an initial support level, coinciding with the late-Oct breakout zone).
  • Relative Strength Index (RSI): The 14-day RSI for NOK surged above 70 during the recent rally, signaling overbought conditions. On Oct. 15, before the Nvidia news, RSI was already ~76 [123] due to optimism around earnings. By Oct. 30, after the explosive move, one analysis put RSI at 68.2 – still elevated but off peak, as the stock cooled slightly [124]. An RSI in the high-60s suggests bullish momentum remains, though not as extreme as during the height of the rally. Generally, such RSI levels could presage some consolidation or a minor correction – which we did observe as Nokia stock retreated from ~$7.78 to the $6.8–7.0 range in the days following the big jump.
  • Support and Resistance:Resistance is clearly defined by the recent highs around $8.00–$8.20 [125]. That zone represents not only a psychological round-number level but also the intraday peak ($8.19) from Oct. 28. If Nokia breaks above $8.20 in coming weeks, it would mark a new breakout with little immediate historical resistance (the stock hasn’t traded above $8.20 in almost a decade). Beyond that, the next technical resistance might be around $10 (another psychological level, and near some analysts’ targets). On the downside, support can be expected around $6.00–$6.20 – roughly the pre-spike high (the $6.10 top on Oct. 23 after earnings, which now should act as support) [126] [127]. Additional support is around $5.50 (the 52-week high prior to October, which was a resistance earlier) and the 200-day MA near $5.30 provides a backstop if the stock retraces further. In summary, $6 is an important support threshold, while $8+ is the hurdle to clear for another leg higher.
  • Momentum & Volume: Trading volume in late October exploded to many times average levels [128], confirming a true breakout. The MACD momentum indicator is strongly positive (Oct 30 MACD ~+0.35) [129], reflecting upward momentum – though that too could start to normalize if the stock trades sideways. Short interest in Nokia is relatively low, so this run-up wasn’t a short squeeze but genuine buying. The technicals overall paint a bullish picture, but with the caveat that the stock may need to digest its gains. As one technical analysis site noted in mid-October: Nokia’s rally had an RSI >70 and was ripe for a breather, “a pullback or consolidation around $5.40–$5.20 is possible… The overall uptrend remains intact, however, suggesting any dip could be a buying opportunity” [130]. Indeed, we saw a similar dynamic now at higher price levels – a brief dip after the initial burst, but the longer trend pointing upward.

For traders, the key will be watching whether Nokia can hold above support levels like $6 in the near term and build a new base for potentially another run at $8+. A high-volume close above $8.20 would be very bullish, whereas a break below $6 could signal a deeper correction towards the mid-$5s. Given the fundamentally news-driven nature of this rally, upcoming events (like any additional partnerships or the next earnings in early 2026) could be catalysts for the next big move.

Short-Term and Long-Term Forecasts

Short-Term (Next 3–6 months): The general consensus is cautiously optimistic. After the recent rally, many analysts see Nokia’s stock settling in the high-$6 to $8 range as the market digests the news. For example, year-end 2025 price targets cluster around $8.50–$9.20 [131], implying modest upside from current levels. Several banks have targets in the low-$7s (already achieved) and are likely to revise them upwards. Near term, much will depend on Nokia’s Q4 2025 earnings (to be reported in early 2026) – another beat and upbeat 2026 guidance could propel shares further. Conversely, any hint of integration issues or a soft outlook could trigger profit-taking after the big run.

In the immediate weeks, expect some volatility: the stock’s huge October move could invite both momentum traders and skeptics. Options activity has spiked, indicating active trading around Nokia’s prospects [132]. Notably, even after the Nvidia announcement, one analyst urged that the deal “won’t do much for Nokia’s bottom line right now” and carriers’ spending remains muted [133]. This suggests the stock might not run away further in the short term without new catalysts. A plausible short-term scenario is range-bound trading between roughly $6 and $8 as investors await more data.

However, the upside risk is that Nokia continues to surprise to the upside – e.g., if it announces additional big contracts or partnerships (the company just revealed a deal with Zayo to build advanced IP networks in the U.S. [134] [135], showing it’s not done making news). Positive industry developments, like government 5G/6G subsidies or improved carrier capex, could also lift the stock. On balance, a reasonable short-term target range might be $8–$9 (reflecting the new Street targets), while a short-term pullback could find a floor around mid-$5 to $6 given Nokia’s new fundamentals.

Long-Term (2026–2030): Over a multi-year horizon, forecasts become more speculative, but many analysts believe Nokia’s strategic trajectory could yield significant gains. If Nokia successfully executes its AI/6G roadmap, it could unlock new revenue streams by 2027–2030 (when 6G deployment is expected to ramp). Some projections see Nokia’s stock potentially doubling by 2030, reaching the $12–$15 range as 6G and AI networking become mainstream [136]. For instance, one long-term forecast by BTCC (drawing on TipRanks/Reuters data) set a 2030 target up to ~$14.50 [137]. This assumes Nokia captures a solid share of 6G infrastructure spend and grows earnings accordingly.

Between now and then, a likely trajectory is not straight up but rather two steps forward, one step back. Analysts envision continued growth through 2025–2026, with Nokia possibly breaking above $10 by mid-2026 if AI and cloud integration expands globally [138] [139]. By 2027–28, the stock might consolidate (as 5G matures and before 6G really kicks in) [140]. Then toward 2029–2030, as 6G networks roll out, Nokia could see another wave of demand – at that stage, if Nokia remains a leading vendor (especially with its Nvidia alliance bearing fruit), share prices in the teens are conceivable.

Of course, risks abound in the long term. Nokia faces heavy competition from Ericsson, Huawei (if it circumvents sanctions), and even new players (like cloud companies entering networking). The success of 6G and AI networking is not guaranteed – carriers will invest only if they see clear returns. As one expert cautioned, telcos might limit AI investments to cost-saving measures in the near term [141]. Nokia will also need to continuously innovate to stay ahead; any technological missteps could erode its newfound market confidence.

On the flip side, Nokia has some unique strengths for the long haul: a diversified portfolio, large patent library, and now a foot in the door of the U.S. tech ecosystem via Nvidia. It is also expanding into non-carrier segments (private networks for industries, defense communications – Nokia mentioned opportunities as NATO countries boost defense spending [142]). These could provide growth outside the traditional carrier upgrade cycles.

Bottom Line: Short-term, Nokia’s stock might hover with an upward bias, contingent on execution. Long-term, the company’s reinvention as an “AI + 5G/6G” company could potentially create substantial shareholder value, though not without challenges. As of late 2025, Wall Street’s base case sees moderate upside (to ~$8–$9 in the next year), with the bull case being that Nokia becomes a prime beneficiary of the next tech investment cycle (AI-driven networks), in which scenario the stock could climb toward double-digit territory in the years ahead [143] [144].

Sources:

  1. Mateusz Kaczmarek, “Nokia (NOK) Stock Soars on $1B Nvidia Deal & Massive 5G Contract Wins,” TS2.tech – TechStock² (October 30, 2025) [145] [146]
  2. Marcin Frąckiewicz, “Nokia Stock Soars on 5G Deals and Earnings Beat, Hitting Multi-Year High,” TS2.tech – TechStock² (October 23, 2025) [147] [148]
  3. Mateusz Kaczmarek, “Nokia Stock Surges on 5G Deals and Bullish Forecasts – What’s Next for NOK Investors?,” TS2.tech – TechStock² (October 15, 2025) [149] [150]
  4. Reuters – Supantha Mukherjee & Louise Rasmussen, “Nvidia’s $1 billion stake sends Nokia to decade high on AI hopes” (Oct 28, 2025) [151] [152]
  5. Reuters Breakingviews – Jennifer Johnson, “Nvidia deal casts AI haze over Nokia valuation” (Oct 29, 2025) [153] [154]
  6. MarketBeat Instant Alert, “Nokia (NYSE:NOK) Shares Up 18.5% – Here’s What Happened” (Oct 29, 2025) [155] [156]
  7. Stocktwits News – Ananya Mariam Rajesh, “Nokia Sees Price Target Hikes After Nvidia’s $1B Investment” (Oct 29, 2025) [157] [158]
  8. BTCC Research, “Nokia Stock Price Prediction 2025–2030: Can NOK Reach $10 After Nvidia’s $1B AI Partnership?” (Oct 30, 2025) [159] [160]
  9. Public.com – After-Hours Trading data for NOK (Oct 31, 2025) [161]
  10. Insider Monkey – Syeda Seirut Javed, “Jim Cramer Highlights NVIDIA’s Stake in Nokia” (Oct 30, 2025) [162]
Nvidia Investing $1 Billion in Nokia as Part of AI Push
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References

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Mateusz Kaczmarek Latest posts

A technology and finance expert writing for TS2.tech. He analyzes developments in satellites, telecommunications, and artificial intelligence, with a focus on their impact on global markets. Author of industry reports and market commentary, often cited in tech and business media. Passionate about innovation and the digital economy.

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Stock Market Today

  • A Fresh Look at CoreWeave (CRWV) Valuation Amid Momentum
    November 1, 2025, 12:56 PM EDT. CoreWeave (CRWV) has attracted traders after a 2% weekly gain and a 28% three-month return, signaling momentum investors want to ride. The stock trades at a price-to-sales ratio of 19.7x, well above the US IT industry average but near its peer group, implying high growth expectations are baked in despite current losses. A closer look shows the market pricing future revenue growth, with risk if momentum fades. From a contrary view, SWS's DCF analysis suggests the stock could be trading below its fair value, hinting at a potential long-term opportunity for patient investors. Key caveats include growth slowdown risks and valuation sensitivity to sentiment, making it essential to weigh momentum against fundamentals.
  • Nebius Stock Ahead of Q3 Earnings on Nov. 11: Is It a Buy?
    November 1, 2025, 12:42 PM EDT. Nebius Group (NBIS) sails into Q3 results on Nov. 11 amid a crowded AI-infrastructure race. The company rents Nvidia GPUs through a cloud platform, competing with CoreWeave and Oracle. Shares have surged ~346% this year. Management has already outpaced prior ARR targets, helped by a five-year, $17.4 billion deal with Microsoft to expand data-center capacity. Investors will scrutinize whether the Microsoft collaboration will diversify beyond a single customer and whether Nebius can land additional hyperscalers like AWS or Google Cloud. The balance sheet shows about $1.7 billion cash (Q2), underscoring a capital-intensive path to scale. Key questions: expected capex cadence, capital allocation strategy, and the timeline to meaningful returns on new capacity. Q3 commentary could reveal roadmap, profitability, and ROI for investors.
  • Nebius Stock: Buy Ahead of Nov. 11 Earnings and the Microsoft Deal?
    November 1, 2025, 12:40 PM EDT. Nebius Group (NBIS) has surged ~350% this year on AI infrastructure momentum, underpinned by a five-year, $17.4 billion cloud deal with Microsoft. The company sells AI infrastructure as a service, leasing GPUs from Nvidia via a cloud platform and competing with CoreWeave and Oracle. Nebius has expanded its data centers across multiple regions, aiming for roughly $1 billion ARR by year-end, a target that appears surpassed by the Microsoft deal. Investors will look for updates on how the collaboration might deepen, potential new hyperscalers (AWS, Google Cloud), and how revenue concentration is managed. On the balance sheet, Nebius held about $1.7 billion in cash as of Q2. With Q3 earnings on Nov. 11, the stock faces questions about growth sustainability and competitive risk.
  • Mosaic Stock Forecast: Analysts See Potential Upside to 2027
    November 1, 2025, 12:24 PM EDT. Mosaic trades around $27 today, with analysts targeting a median of $37 and a high of $48-roughly upside of ~37% over the next year. The spread reflects mixed views on fertilizer pricing and demand. Near-term catalysts include a 2025 guidance update showing lower phosphate volumes but stable potash pricing, and a recently streamlined Saudi partnership after Mosaic sold its Ma'aden stake. Looking to 2027, the consensus projects ~4.5% revenue growth and ~11.4% operating margins, with a forward multiple around 8.5x and a model-derived fair value near $28. That translates to modest total returns (~3%), or about 1.4% annualized, with downside limited by solid cash flow and a 3.2% dividend yield. Upside hinges on fertilizer-price rebound and stronger export demand.
  • Steel Dynamics Stock Forecast: Analysts See Modest Upside by 2027
    November 1, 2025, 11:42 AM EDT. Steel Dynamics, Inc. (NASDAQ: STLD) trades near $157 as analysts peg a modest upside through 2027. The stock sits near its 52-week high after a year of gains, underpinned by disciplined execution, steady margins, and a strong balance sheet. A Mississippi aluminum flat-rolled mill project, slated for production in 2025, broadens exposure beyond steel into automotive and packaging demand. Analysts' targets average around $167-$168, with a high near $180 and a low near $145-roughly 6% upside on a 12-month view. Growth remains steady: revenue ~5.5% annually to 2027, operating margin ~11.9%, and forward P/E around 11x. TIKR's model points to about $164 by 2027, implying ~4-5% total returns (~2% annualized).
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