Helsinki, June 16, 2026, 02:03 EEST
- Nokia shares finished 3.32% lower at €12.54 in Helsinki on Monday. In New York, its ADR was last at $14.82, ticking up 0.14%.
- Nokia surged 10.06% over five days on Friday, according to MarketScreener, but the shares pulled back Monday.
- Nokia is set to report second-quarter and first-half 2026 results on July 23.
Nokia Oyj dropped 3.32% to €12.54 in Helsinki on Monday. The stock eased back following its AI-fueled jump, while most European names gained. Shares started at €13.36, traded as high as €13.38, then fell to €12.26 before closing down. MarketScreener puts its three-month gain at 74%. Fast moves like that tend to bring out some profit-taking ahead of upcoming results.
STOXX 600 ended Monday at a record high, Reuters reported, after a U.S.-Iran deal eased oil prices and helped with inflation. But that’s little help to Nokia. Shares are down as traders pick through earlier gainers, and Nokia is one of several stocks already valued for strong AI growth.
AI infrastructure, optical networking and data center demand are still the bull case themes. Nokia reported Q1 comparable net sales up 4%, with comparable operating profit up 54% to €281 million. Sales to AI & Cloud customers climbed 49%. Comparable profit takes out some items for consistency. CEO Justin Hotard said, “We are increasing our growth assumption for Optical and IP Networks and we are investing to capture accelerating demand from AI & Cloud customers.” Full-year comparable operating profit outlook stays at €2.0 billion to €2.5 billion.
Valuation and execution are the main arguments for bears here. MarketScreener lists analyst consensus at “Outperform.” Still, the average price target is €10.24, about 18% below Monday’s €12.54 close. That same page also notes high earnings multiples as a valuation risk. On the U.S. ADR, MarketBeat tracks 18 analysts rating it “Moderate Buy,” but their $12.57 average target lags the $14.83 recent price MarketBeat uses. Most analysts mention business momentum, but the stock has outpaced their targets. MarketScreener
Nokia is set to release Q2 and half-year results on July 23. Investors are expecting net sales to climb 5% to 9% from last quarter. The market also expects comparable operating profit to fall within the 12% to 16% full-year band Nokia set. Free cash flow may take a hit as spending rises for optical-network capacity. Current price and consensus show Nokia in better shape than before the AI rally, but the stock isn’t cheap now. What happens in the quarter will matter more, with the share price sensitive to execution—there’s room for gains if AI and optical demand stay strong, but Q2 numbers need to back it up.
