Market Performance of Nokia and IBM
Investors who lost faith in companies like Nokia, BlackBerry, Ericsson, or Cisco Systems missed their recent rally. Notably, Nokia's stock jumped over 60% from its 52-week low, with a 9.7% increase last week following its quarterly report.
Nokia is increasingly being viewed as a supplier of AI and cloud services by stock markets. In the third quarter, its network infrastructure segment saw an 11% growth in net sales, with Optical Networks growing by 19% due to demand from AI and Cloud customers, as stated by CEO Justin Hotard. The company forecasts 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.
Meanwhile, IBM's stock initially slipped towards its 50-day moving average below $270 but then surged by 9.31% on October 24, reaching a new 52-week high of $307.46. In Q3, IBM achieved a 7% revenue growth rate. According to CEO Arvind Krishna, clients are turning to IBM as a trusted partner for building embedded AI and infrastructure.
CEO Justin Hotard noted the growth in Optical Networks due to AI and Cloud customers.
CEO Arvind Krishna stated that clients view IBM as a trusted partner for embedded AI and infrastructure.
In summary, Nokia and IBM have seen significant market movements, with Nokia gaining from its AI and cloud services and IBM benefiting from its position as a trusted partner for embedded AI and infrastructure.
Author's summary: Nokia and IBM stocks react to quarterly reports.
- Nokia's stock jumped over 60% from its 52-week low.
- IBM achieved a 7% revenue growth rate in Q3.
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