Market Performance of Nokia and IBM
Investors who lost faith in Nokia, BlackBerry, Ericsson, or Cisco Systems missed their recent rally. Nokia's stock surged over 60% from its 52-week low, with a 9.7% gain last week following its quarterly report.
Nokia is now viewed as an AI and cloud services supplier by stock markets. In Q3, its network infrastructure segment saw 11% net sales growth, with Optical Networks growing 19% due to AI and Cloud customers, as stated by CEO
Justin Hotard. The company forecasts its venture fund investments to add EUR 0.1 billion to operating profit, with a full-year profit forecast of EUR 1.7 billion to 2.2 billion.
Meanwhile, IBM's stock slipped towards its 50-day moving average but jumped 9.31% on October 24 to a new 52-week high of $307.46. In Q3, IBM posted a 7% revenue growth rate, with CEO
Arvind Krishnanoting that clients turned to IBM as a trusted partner for embedded AI and infrastructure.
Author's summary: Nokia and IBM stocks show promising growth.
- Nokia's stock gained over 60% from its 52-week low.
- IBM's stock jumped 9.31% on October 24 to a new 52-week high.
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