Nokia Corp. (NYSE:NOK) stock rose more than 3% on Monday as investors returned to technology stocks amid a broader market rally.
The Nasdaq gained 1.00%, while the S&P 500 advanced 0.77%. Other technology names also traded higher during the session, reflecting improving risk appetite across equities.
The broader market remained supportive. The Dow Jones Industrial Average rose 1.16%, the Russell 2000 gained 0.98%, and the Nasdaq climbed 1.00%.
Recent Results Show AI Momentum
Recently, Nokia reported stronger-than-expected second-quarter results on July 23, driven by robust demand for AI data center networking products.
Revenue rose 8% year over year to 4.82 billion euros, while adjusted earnings of 8 cents per share topped Wall Street estimates.
AI and cloud revenue more than doubled, accounting for 9.3% of total sales, prompting the company to raise its full-year operating profit outlook.
CEO Justin Hotard also said memory supply constraints are likely to persist through 2027 as AI infrastructure demand continues to outpace supply.
Technical Analysis
The long-term trend remains constructive. Nokia continues to trade above its 200-day simple moving average (SMA) of $9.09, a level that has attracted buyers during recent weakness.
However, the short-term picture remains weaker. The stock trades 18% below its 20-day SMA of $11.36 and nearly 30% below its 50-day SMA of $13.30. Those levels indicate the intermediate trend is still recovering from the summer selloff.
Momentum indicators also remain cautious. The moving average convergence divergence (MACD) sits below its signal line, while the histogram remains negative. That typically signals weakening upside momentum and suggests rallies could fade unless buying pressure strengthens.
The broader trend is mixed. Nokia’s golden cross, formed in October 2025 when the 50-day SMA moved above the 200-day SMA, continues to support the long-term outlook. Still, the 20-day average remains below the 50-day average, showing short-term weakness.
The stock is currently attempting to rebound after falling from its June high to its July low.
- Key resistance: $9.76, near the 200-day exponential moving average (EMA).
- Key support: $9.09, aligned with the 200-day SMA.
Analyst Outlook
Wall Street maintains a Buy consensus rating with an average price forecast of $14.67. Recent analyst actions include:
- JPMorgan: Overweight, raised price forecast to $21 on June 12.
- Argus Research: Upgraded to Buy with a $15 price forecast on April 27.
- Morgan Stanley: Initiated coverage with Overweight and an $8 price forecast on February 9.
Benzinga Edge Rankings
Nokia scores well on momentum but posts more balanced readings across other factors.
- Momentum: Bullish (92.6)
- Quality: Neutral (51.95)
- Value: Neutral (51.14)
- Growth: Neutral (40.48)
The ratings suggest momentum remains the stock’s strongest attribute, while investors continue to watch whether shares can reclaim the 20-day and 50-day moving averages.
ETF Exposure
Nokia has meaningful exposure in several technology-focused exchange-traded funds.
- Defiance Quantum ETF (NASDAQ:QTUM): 2.14% weighting
- First Trust Indxx NextG ETF (NASDAQ:NXTG): 2.17% weighting
Large inflows or outflows in these funds can result in corresponding buying or selling of Nokia shares.
Price Action
NOK Stock Price Activity: Nokia shares were up 3.19% at $9.39 at the time of publication on Monday, according to Benzinga Pro data.
Photo by Mercurious via Shutterstock
