Nokia Shares Could Rise to $9.39 by Year-End — Analyst
Analyst Alan Long from TradingKey suggests that Nokia shares may climb to $9.39 by December 31, reaching their October 29 high. The shares are currently trading at around $8.41.
According to Long’s assessment, the key barrier is at $8.40. If the shares break through this level, they could reach $9.39 and then $9.65. Support is seen at the $7.90–8.00 range.
Three factors are driving the growth. First, demand for AI: in the third quarter, Nokia’s revenue from AI and cloud segments surged by 123%, while orders increased by 118%, reaching €1.5 billion. In the fourth quarter, the company expects sales growth of 20–24% quarter-over-quarter. Second, Moody’s upgraded Nokia’s rating to investment-grade Baa3, and the company’s net cash reserves stand at €2.6 billion. Third, the AI stock market is beginning to stabilize.
The main risk lies in volatility: over the past month, the shares have dropped by 14.6%. If the price closes below $7.90, the forecast may not materialize, and the shares could fall to $7.
