Nokia’s Six-Month Gain Meets Uneven Telecom Spending Risks

Nokia shares gained 16.2% over the past six months, while the industry fell 12.3%, according to the Zacks article. The stock outperformed the S&P 500 over that period but lagged the Zacks Computer & Technology sector.

As of 18:41 UTC on Oct. 7, Nokia traded at $10.64, down 3.05% from its previous close. In the second quarter of 2026, the company’s AI and Cloud revenue more than doubled year over year, and related order intake reached €2.8 billion.

Nokia management said about half of those long-term orders are expected to turn into revenue over the next 12 months. It also cautioned that quarterly order patterns are likely to remain uneven. The company is expanding cloud-provider and enterprise partnerships, while integrating Nokia Data Suite with Microsoft Fabric for network automation applications.

The article identified fluctuating telecom spending and competition from Ericsson, Cisco and Arista as challenges. Nokia is also exposed to trade policy, regulation and geopolitical developments across its markets. It plans to divest its Fixed Wireless Access CPE business as part of a portfolio shift toward AI networking and optical technologies.

Zacks said 2026 earnings estimates were unchanged, while 2027 estimates declined over the prior 60 days. Its cited forward price-to-earnings ratio for Nokia was 23.8, compared with 29.51 for the industry and a 20.02 mean for the company.