Market Performance of Nokia and IBM
Investors who lost faith in Nokia, BlackBerry, Ericsson, or Cisco Systems missed their recent rally. Notably, Nokia gained over 60% from its 52-week low, with a 9.7% increase last week following its quarterly report.
Nokia is being viewed as an AI and cloud services supplier by stock markets. Its network infrastructure segment saw an 11% growth in net sales in the third quarter. Optical Networks experienced a 19% growth, driven by AI and Cloud customers, as stated by CEO Justin Hotard.
Network forecasts indicate that its venture fund investments will add EUR 0.1 billion to its operating profit, with a full-year profit forecast of EUR 1.7 billion to 2.2 billion.
In contrast, IBM slipped towards its 50-day moving average below $270 but then jumped 9.31% on Oct. 24 to a new 52-week high of $307.46. IBM posted a 7% revenue growth rate in Q3, with CEO Arvind Krishna stating that clients turned to IBM as a trusted partner for embedded AI and infrastructure.
CEO Justin Hotard and CEO Arvind Krishna commented on the growth driven by AI and Cloud customers.
Author's summary: Nokia and IBM show significant growth in AI and cloud services.
- Nokia: 60% gain from 52-week low, 9.7% increase last week
- IBM: 9.31% jump on Oct. 24, new 52-week high of $307.46
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