Nokia Crushed Earnings — and Dropped to Its Lowest Close Since April
Nokia stock closed at $9.73 on Thursday, down 5.35%, its lowest close since April 2026. The decline erased the 0.618 Fibonacci golden pocket at $10.41 and extended a slide that began in early June.
The selloff followed a second-quarter report that beat estimates but paired accelerating AI demand with warnings on memory shortages. NOK now trades roughly 44% below its June peak of $17.45.
Why Nokia Stock Is Falling Despite a Q2 Earnings Beat
Nokia's second-quarter results looked strong on paper. Comparable operating profit rose 18% year-over-year to €434 million, above the €382 million analyst consensus. Net sales reached €4.82 billion, up 9%.
Sales to AI and cloud customers doubled to €446 million, while new orders from the segment hit a record €2.8 billion. Nokia targeted this market after a strong Q1, when hyperscaler spending first lifted its optical business.
However, investors sold the outlook rather than the quarter. CEO Justin Hotard warned that memory shortages may persist into 2027, as AI companies absorb the industry's DRAM supply and push component prices higher.
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