NEW YORK, March 23, 2026, 17:36 EDT
Nokia’s U.S.-listed shares were last up about 1% at $8.06 on Monday, clawing back some ground as Wall Street rebounded and oil prices fell after Washington signaled a pause in planned strikes on Iranian power plants.
The move matters because the stock is coming off a rough patch. Nokia fell 3.86% on Friday, its fourth straight daily loss, and ended that session 9.52% below the $8.82 52-week high it touched on March 16.
But the AI story still sits on a less forgiving base. In January, Nokia forecast 2026 operating profit of 2 billion to 2.5 billion euros after saying tariffs and a weaker dollar had hit margins, a reminder that execution and older telecom demand can still trip up the stock.
The company has kept pushing the growth case. On March 16, Nokia launched a new suite of fiber-networking products for AI-era networks, and David Heard, president of network infrastructure, called the market a “critical inflection point,” while Cignal AI analyst Kyle Hollasch said demand was “unprecedented.” Nokia Corporation | Nokia
Earlier this month, Nokia expanded AI-related network partnerships with TIM Brasil and Deutsche Telekom, underscoring the spending race that is also lifting rival Ericsson and other telecom gear makers chasing AI-linked network upgrades.
Monday’s gain was not unique to Nokia. Ericsson’s U.S.-listed shares were up about 1.1%, while European equities reversed earlier losses, suggesting part of the bid was a wider risk rebound rather than a fresh Nokia-specific catalyst.
The next hard tests are close. Nokia has scheduled its annual meeting for April 9 and first-quarter results for April 23, while the board has proposed up to 14 euro cents a share in dividend for 2025; advance voting for the AGM runs until March 30.
That is why traders keep circling back to the AI angle. Nokia pitched its $2.3 billion purchase of Infinera as a way to deepen its exposure to data centers and leapfrog Ciena into the No. 2 spot in optical networking behind Huawei.
For now, Monday’s uptick looks more like breathing room than a verdict. The stock has bounced, but the market still wants proof that newer AI and network-infrastructure businesses can outrun the drag from the older telecom cycle.
