Nokia Oyj (NYSE: NOK) shares closed at $9.28 on Monday, up 1.98% ($0.18), a modest bounce after a rough stretch that has pulled the stock down roughly 25% over the past month, according to Google Finance. In pre-market trading Tuesday, shares slipped back to around $9.10, down about 1.8%.
What’s Driving Nokia Stock Today
The stock has been under pressure since Nokia reported second-quarter earnings on July 23. The headline numbers actually beat expectations. According to Benzinga, adjusted earnings per share came in at 8 cents, topping the roughly 7-cent consensus, and revenue of $5.60 billion (€4.82 billion) rose 8% year-over-year, ahead of forecasts.
AI & Cloud segment sales more than doubled from a year earlier to €446 million, with €2.8 billion in new orders, per Nokia’s own SEC Form 6-K filing. That segment is central to Nokia’s pitch to investors as it repositions around AI-driven network infrastructure.
Despite the beat, shares fell sharply after the report. BeInCrypto reported that Nokia closed at $9.73 that week, its lowest level since April 2026, down 5.35% in a single session. The gap between solid earnings and a falling stock came down to two things: warnings about memory chip supply shortages that could crimp near-term growth, and a broader technology sector selloff that dragged down telecom equipment peers. Rival Ericsson’s own weaker Q2 results and memory-cost warnings triggered contagion selling across the group, per Tickeron.
Nokia also disclosed negative free cash flow of €732 million for the quarter, tied to roughly €800 million in planned 2026 restructuring costs, and said it now classifies its Fixed Wireless Access CPE and Enterprise Campus Edge businesses as discontinued operations, according to the company’s SEC filing.
The Dividend
Nokia’s board approved a €0.04 per-share dividend, with a record date of July 28, 2026 and payment due August 6, per the SEC 6-K filing. That leaves €0.06 of remaining authorization under the company’s €0.14-per-share maximum for the year.
Where NOK Stands Technically
The stock is trading roughly 44% below its June peak near $17.45. It sits just under 2% above its 200-day moving average around $9.07, a level some traders are watching as key support, per Benzinga. Relative Strength Index readings in the high-20s suggest the stock has been in oversold territory.
| Metric | Value |
|---|---|
| Close (Mon Jul 27) | $9.28 (+1.98%) |
| Pre-market (Tue Jul 28) | ~$9.10 (-1.8%) |
| 52-week high | $17.45 |
| 200-day moving average | ~$9.07 |
| P/E ratio | 62.99 |
Analyst View
Sentiment among analysts covering the stock has stayed largely constructive through the pullback. Several firms, including SEB Equities and JPMorgan, have reiterated or upgraded buy ratings during the selloff, according to Tickeron. Some analysts see meaningful upside from current levels, though price targets are forecasts, not guarantees, and shouldn’t be read as predictions of where the stock will actually trade.
