Why Is Nokia Stock Down 8% Today?
(NYSE: NOK) shares should seemingly be up today. The Finnish telecom-technology company's fourth quarter revenue grew 3% year over year to $7.13 billion, topping analysts' estimates of $6.95 billion. And, per-share earnings of $0.21 beat estimates of $0.17. Guidance for the year now underway is also encouraging, with the company expecting top-line growth of between 6% and 8%.
As of 3:06 p.m. ET today, however, Nokia's stock is down 8%. What gives?
Blame something unrelated to Nokia's results, mostly. That's Thursday's sweeping sell-off of most of the market's major AI stocks, started and led by Microsoft (NASDAQ: MSFT). The underlying worry has implications for one of Nokia's newest endeavors.
Source Fool.com
Nokia Corp. A ADR Stock
€7.10
7.630%
With 9 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
However, we have a potential of -15.49% for Nokia Corp. A ADR as the target price of 6 € is below the current price of 7.1 €.
