Helsinki, June 15, 2026, 12:02 (EEST)
- Nokia shares rose in Helsinki on Monday, tracking gains from the U.S. ADR, which jumped on Friday.
- AI and cloud are still the main bull case here. The stock has been choppy since it hit its 52-week high earlier this month.
- Nokia is set to release its Q2 and H1 2026 results on July 23. That’s the next key event for the company.
Nokia Oyj closed at €13.095 in Helsinki Monday, up 1.00%. Shares traded between €12.960 and €13.380 over the day. The stock jumped 10.06% on Friday, settling at €12.965. Even after the back-to-back gains, it’s still under the 52-week high of €14.995 hit earlier this month.
Nokia’s U.S. ADR jumped 5.04% on Friday, finishing at $14.80, MarketWatch reported. The stock outperformed both the Nasdaq’s 0.31% gain and the Dow’s 0.70%. The ADR closed out the week higher, though it’s still down 15.19% from its 52-week peak of $17.45. Shares have seen choppy trading since the surge in early June.
Nokia shares traded higher as investors look to growing AI infrastructure orders to drive actual gains in revenue and margin. The company posted a 4% jump in comparable net sales for the first quarter, at constant currency and portfolio. Sales in Network Infrastructure were up 6%. Optical Networks grew 20%. Net sales to AI and cloud firms jumped 49%. Nokia booked €1 billion in orders from those same AI and cloud customers in the quarter.
Nokia CEO Justin Hotard is raising the company’s growth targets as it shifts strategy. “We are increasing our growth assumption for Optical and IP Networks and we are investing to capture accelerating demand from AI & Cloud customers,” Hotard said. The company now expects Network Infrastructure sales to rise 12%–14% by 2026, and growth for Optical Networks and IP Networks combined at 18%–20%. Nokia held its 2026 comparable operating profit outlook at €2.0 billion to €2.5 billion. Nokia Corporation | Nokia Nokia Corporation | Nokia
Nokia is getting mixed calls from analysts. JPMorgan’s Sandeep Deshpande lifted his U.S. price target on Nokia to $21 from $14, keeping an Overweight. He pointed to better orders and Nokia’s optical network business, according to TradingView and TheFly. Investing.com puts the average Helsinki 12-month target at €10.243, with a Neutral rating—11 buys and 6 sells—hinting the upside may already be priced in. TradingView
Nokia bulls are looking at the company’s AI infrastructure play. Demand is building as hyperscalers add more data centers, boosting sales for optical transport and IP networking. Nokia shares jumped after first-quarter results, Reuters reported, reaching their highest mark since 2010 on AI and cloud-driven sales. Nokia now sees its AI and cloud addressable market growing 27% per year from 2025 to 2028, up from its earlier 16% a year projection.
Nokia shares look vulnerable to downside after their latest run-up if negative headlines land. The list of risks includes tough rival pressure, changes in customer network budgets, supply and chip expenses, currencies, tariffs, and global tensions. The company isn’t seeing much AI-driven growth in its Mobile Infrastructure division. Nokia reported first-quarter Radio Networks were unchanged. Core Software and Technology Standards grew. Nokia Corporation | Nokia
Nokia will report Q2 and first-half earnings on July 23, 2026. Investors want to know if AI and cloud demand holds up and if Optical and IP Networks can match the company’s higher growth outlook. Margins may tighten as Nokia steps up spending to secure business. The stock is not cheap—buyers are sticking with the AI story, but shares are trading close to their highs and above the consensus price target in Helsinki, according to Investing.com. Nokia Corporation | Nokia
