Close
$10.21
−3.59% Friday
Nokia shares fall 3.6% as AI order book puts pressure on cash flow
Nokia Oyj slipped 3.59% on Friday, wiping out roughly $2.1 billion in market capitalization. The stock ended the session at $10.21, breaking a three-day winning streak.
Nokia Oyj · NYSE: NOK
AI orders versus the cash-flow test
Market data: Aug. 28, 2026, 4:00 p.m. ET
Fundamentals and consensus: Aug. 29, 2026, 3:00 a.m. ET
Fundamentals and consensus: Aug. 29, 2026, 3:00 a.m. ET
Volume
50.6M
58% of 50-day average
Estimated value lost
$2.1B
Friday session
Analyst target
$15.02
47% implied upside
Order conversion bridge
Orders equal 58% of Q2 sales; management expects roughly half to convert within 12 months.
Profit quality
| Comparable operating profit | €434M | +18% YoY |
| Comparable operating margin | 9.0% | +70 bps |
| Reported operating result | −€50M | €390M restructuring charge |
| Free cash flow | −€732M | Q2 2026 |
| Net cash | €2.78B | −€1.01B QoQ |
Growth and valuation snapshot
| Metric | Latest | Comparison | Investor read-through |
|---|---|---|---|
| Group sales | €4.82B | +9% constant currency | Broad growth returned |
| Network Infrastructure sales | €2.04B | +12% constant currency | Optical and IP led |
| AI & Cloud sales | €446M | +105% constant currency | 9.3% of group sales |
| 2026 comparable operating profit | €2.1B–€2.6B | Midpoint €2.35B | Orders equal 1.19× midpoint |
| Analyst mix | 8 Buy / 2 Hold / 1 Sell | Targets $8.50–$21 | Wide execution range |
Friday peer tape
| Company | Ticker | Move |
|---|---|---|
| Nokia | NOK | −3.59% |
| BlackBerry | BB | −5.66% |
| Motorola Solutions | MSI | −0.11% |
| Apple | AAPL | +1.63% |
What changes the thesis
Oct. 22, 2026 Confirmed Q3 reporting date.
Upside: Faster order conversion, sustained Optical/IP growth and positive free cash flow.
Downside: Supply delays, continued restructuring outflows, customer concentration or currency pressure.
Sources: Nokia Q2 2026 earnings release and IR calendar; MarketWatch close and volume; Investing.com analyst consensus.
Nokia Stock Slips as €2.8 Billion AI Orders Meet an €800 Million Restructuring Bill
Nokia Oyj slipped 0.23% to $10.13 on Friday. About 34.0 million ADRs had changed hands by 13:25 EDT. That ranked Nokia seventeenth on Yahoo Finance’s most-active U.S. list, although the feed was delayed.
Nokia Oyj · NYSE:NOK
AI orders are large.
Conversion is the trade.
$10.13 −0.23%
Delayed intraday snapshotAugust 21, 2026 · 13:25 EDT
AI & cloud orders
€2.8B
6.3× Q2 sales to those customers
12-month conversion
≈€1.4B
Management expects about half of orders
2026 restructuring
€800M
34% of profit-guide midpoint
Consensus target
$15.02
+48% versus the snapshot price
Q2 operating bridge
Comparable operating margin was 9.0%; reported margin was −1.0% as restructuring accelerated.
Street view · 11 analysts
Consensus: Buy Target range $8.50–$21.00
Growth versus margin
+9%Nokia constant-currency sales growth
46.0%Nokia comparable gross margin
−1%Ericsson organic sales growth
48.4%Ericsson adjusted gross margin
Valuation pressure points
75.4×Trailing P/E
−42%Below 52-week high
$56.5BMarket value
33%Volume vs 3-month average
Investor focus: order conversion, supply, memory costs, restructuring cash use and China execution.Sources: Nokia, Ericsson, Reuters, Yahoo Finance, S&P Global via StockAnalysis. Ratios calculated from source data.
Nokia’s China Withdrawal: 1.75 Years to Breakeven, Shares Must Climb 139% to Maintain Value – Analysis
Nokia Oyj will close nearly all of its locations in mainland China before the end of the year. This action gives a concrete figure to the ongoing reduction. The company’s announced charge tied to China amounts to under two years’ worth of targeted yearly cost cuts.
Nokia Oyj · NYSE:NOK
China savings meet an AI valuation test
The retrenchment can repay quickly. Order conversion still drives the stock.
U.S. market closed
Close
$10.15
+0.15% · Aug 20, 2026, 16:00 EDT
52-week return
+138.92%
Range: $4.20–$17.45
China charge
€350m
Expected in 2026
Annual savings
€200m
Target from China integration
China program: fast gross payback, material near-term cost
1.75 years
€350m charge ÷ €200m annual savings
The math is attractive. The timing is not guaranteed. Site closures, severance and customer transitions can delay realized savings.
Where the shares sit
52-week position
45%
above the low
$4.20 low$10.15 now$17.45 high
Market cap$56.64bn
Trailing P/E81.37×
Volume / 3-month average64.5%
Next resultsOct 22
Q2 engine: AI and cloud
growth, year on yearAI & cloud orders: €2.8bn
Analyst recommendations
| Rating | Count | Share |
|---|---|---|
| Strong Buy | 4 | 36% |
| Buy | 4 | 36% |
| Hold | 3 | 27% |
| Sell / Strong Sell | 0 | 0% |
Average target
$15.02
$8.50 low$10.15 close$21 high
Nokia shares slide 3.6% in premarket; China withdrawal costs offset 4.6% revenue exposure
Nokia Corporation declined 3.6% to $10.39 on Tuesday after reports surfaced that the company plans to shut down nearly all of its sites in mainland China by the end of the year. Trading volume hit about 108 million ADRs, exceeding the 50-day average.
NOK
Nokia investor dashboard
NYSE:NOK · China reset versus AI-network growth
Market data: August 18, 2026, 4:00 p.m. EDT
Financials: Q2 2026 · Analyst set: July 2026
Financials: Q2 2026 · Analyst set: July 2026
Last close
$10.39
▼ 3.62%
5-day streak endedPremarket pending
Trading volume
108.0M
111% of 50-day average
50-day avg 97.2M
China sales share
4.6%
€913M of €19.89B in 2025
2019 share 7.9%2025 sales -19%
Average target
$15.02
▲ 44.6% implied
Range: $8.50–$21.00
China exposure shrank before the reported site closures
Restructuring math
China integration charges expected in 2026€350M
Targeted annual savings€200M
Simple charge / annual-savings ratio1.75×
Total 2026 restructuring charges€800M
Investor question: can Nokia deliver savings without slowing optical and IP growth?
Wall Street target map
Q2 2026: reported costs mask stronger operating momentum
| Metric | Q2 2026 | YoY |
|---|---|---|
| Group net sales | €4.815B | +8% |
| Network Infrastructure sales | €2.037B | +12% |
| AI & Cloud sales | Not disclosed | +105% |
| Comparable operating profit | €434M | +18% |
| Reported operating result | −€50M | €147M profit prior year |
What matters next
ExecutionFinal site count, workforce reductions and cash timing remain undisclosed.
Growth offset€2.8B AI & Cloud order intake; about half expected as revenue within 12 months.
Guidance2026 comparable operating profit: €2.1B–€2.6B. Q3 sales: +3% to +7% sequentially.
Sources: Nokia Q2 2026 report; Nokia 2025 annual report; Reuters; MarketWatch; S&P Global analyst data via Stock Analysis.Market prices are historical snapshots, not live quotes.
Nokia shares fall 7.5% as AI demand reaches 6.3 times its quarterly revenue
Nokia Corporation was the most actively traded US-listed stock shortly after Monday's market open. Its ADRs dropped $1.25 to $15.37, pulling back after last week's surge in optical networking stocks.
Nokia Stock Faces €1.4 Billion AI Revenue Test After Four-Day Surge
Nokia Oyj American depositary receipts closed at $10.76 on Friday, increasing 1.89%. This marked a fourth straight day of gains for the stock, despite the Nasdaq Composite declining 0.28%.
Nvidia reveals $63.44 billion equity holdings, with Intel and SpaceX making up majority share
SANTA CLARA, California, August 15, 2026, 13:12 PDT — NVIDIA Corporation on Friday reported holding $63.44 billion in U.S.-listed equities. Intel and SpaceX represented 80.3% of the portfolio's value.
Nokia Shares (NOK) Rise 15% as €2.8 Billion in AI Orders Await Conversion Challenge
Nokia Oyj climbed 1.89% to finish at $10.76 on Friday, marking its fourth consecutive session of gains. The ADR advanced roughly 15% over the week, even as the Nasdaq Composite slipped 0.28% on Friday.
Nokia Shares Jump 17.9% in Four Sessions Amid AI Orders Surging to 6.3x Sales
Nokia Oyj gained 1.9% to close at $10.76 on Friday, marking its fourth consecutive session of increases. Over the past four days, the ADR has risen 17.9% while the wider U.S. market declined.
Nokia Shares Surge 9.2% Following Upbeat Optical Outlook, Adding €4.4 Billion in Market Capitalization
Nokia Oyj rose 9.2% to $10.32 on Wednesday, boosting its market capitalization by roughly $5.02 billion. Volume climbed to 115.6 million shares, surpassing the average by 34%.
Nokia stock (NOK) surges 8% as AI orders soar to 6.3 times quarterly revenue
Nokia Corporation gained 8.1% to approximately $10.20 in early premarket activity. The advance continued Tuesday's rebound, offsetting losses from last week.
Nokia shares climb after €2.8 billion AI order book marks reset test
Nokia Oyj shares rose on Tuesday, with investors considering a substantial three-month pullback alongside an expanding AI order backlog for the company. At 12:50 p.m. in New York, the ADR was trading at $9.44, showing a 3.4% gain as the regular session continued.
Nasdaq Helsinki session open as Nokia (HEL:NOKIA) investors focus on AI deal details
Nokia Oyj made slight gains after it became part of Zankore, a major artificial intelligence initiative in Indonesia. The platform’s significant scale is evident, while Nokia’s financial involvement remains unclear.
Nokia Oyj (HEL:NOKIA) Shares Fall by Week’s Close as €2.8 Billion AI Order Intake Raises Liquidity Concerns
Nokia closed the week down 3.2%, capping days of swings, even after a favorable rating update. Cash conversion remains a key challenge.
Nokia (HEL:NOKIA) Stocks Climb Further Following €2.8 Billion AI Deals, Clear S&P Cash-Flow Criteria
Nokia Oyj gained 3.8%, trading at €8.23 as of 12:01 EEST on Friday. The OMX Helsinki 25 index advanced 0.9%. Shares in Helsinki traded as planned, with markets set to close at 18:30 EEST.
Nokia (HEL:NOKIA) stock heads for €10 test as AI trade sets up into earnings
Nokia Corporation is under pressure again. The stock has dropped, as traders start to doubt how soon the AI push will pay off. A new Wall Street Journal piece brought up Nokia’s part in supplying AI data centers, but the Helsinki market didn’t move on that.
Nokia drops as investors shrug at FiberCop news, look to AI-optics prices
Nokia Oyj dropped in Helsinki on Tuesday, reversing more of the AI-optical-network gains that took the Finnish telecom group to a 16-year high earlier this year.
Nokia (HEL:NOKIA) slides in Helsinki, U.S.-listed ADRs seen lagging as AI strength fades
Nokia Oyj slipped in Helsinki on Monday. For U.S. investors, the main signal came from the spread between the updated Helsinki price and where New York closed. Nasdaq Helsinki ran normal hours, trading from 1000 to 1825 EEST.
Nokia gains in Helsinki; analysts debate AI optical story
Nokia Oyj climbed in Helsinki on Friday, offering European markets action on the stock with the New York ADR closed for the U.S. holiday. The move followed two rough sessions for the ADR and news of a new optical-network deal in Belgium.
Nokia (HEL:NOKIA) share rally may account for about 40% of Helsinki index move
Nokia Oyj rose 4.46% to 11.72 euros by 12:57 EEST in Helsinki on Tuesday, while the OMX Helsinki 25 was up 1.10% at 6,218.18. Nasdaq Helsinki was open for normal trading; Nasdaq lists Helsinki equity hours at 10:00-18:30 local time and does not list June 30 among 2026 Helsinki closure days.
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