Short interest for Nokia gives investors a sense of the degree to which investors are betting on the decline of Nokia's stock. Short interest data is updated every two weeks.

Nokia Stock (NYSE:NOK), Short Interest Report

Nokia

Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment, which sells equipment and services to telecom carriers to power public wireless networks, is the largest, followed closely by network infrastructure. Network infrastructure focuses on fixed networks, including infrastructure, solutions, and components for IP networks, optical networks, and submarine networks. Cloud and network services is a nascent segment catering to enterprises with as-a-service platforms. Nokia also has a sizable research division and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.

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Telefonica SA&#39;s German branch is set to migrate one million 5G users to Amazon Web Services (AWS) this month, marking a groundbreaking partnership. This move, a first for established mobile operators, signals a seismic industry shift towards public clouds, boosting efficiency and scalability.

Amazon, Telefonica&#39;s Bold Venture To Transform Telecommunications - What&#39;s On The Cards?

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Google employees arrested for protesting contract with Israel, Elon Musk accepts challenge from Russian space agency, and more.

Let&#39;s Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 13-20, 2024)

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Telefonica S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEF#NYSE">TEF</a>) announced that O2 Telefónica <a href="https://www.telefonica.de/news/press-releases-telefonica-germany/2024/05/first-5g-core-network-in-the-cloud-for-an-existing-operator-o2-telefonica-sets-new-impulses-in-the-core-network-together-with-nokia-and-aws.html">launched </a>a new 5G core network built entirely in the cloud, using technologies from European network equipment provider Nokia Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) and from Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services (AWS).
The 5G Cloud Core will&nbsp;be designed&nbsp;for a capacity of up to 1 million customers in the first phase.
Selected O2 Telefónica customers will benefit from the advantages of the cloud, which include, among other things, higher availability and reliability&nbsp;as well as&nbsp;faster software updates.
O2 Telefónica is the first telecommunications provider with an existing network to operate its core network on AWS.
This initiative underscores Amazon&#8217;s ambitious foray into global telecommunications, according to a report from Reuters.
While several telecom networks have migrated peripheral operations to public clouds, Telefonica&#8217;s move sets a new precedent as the first existing mobile operator to transition its core network to a public cloud, signaling a shift in industry norms.
The report noted that major cloud-computing giants like Amazon and&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have long sought entry into the telecom sector, eyeing substantial revenue opportunities.&nbsp;
However, skepticism among operators regarding the efficacy of public clouds in managing mobile networks has been a barrier.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38667074/amazon-storms-into-south-africa-makes-waves-with-local-and-international-brands" rel="noreferrer noopener">Amazon Storms Into South Africa: Makes Waves With Local And International Brands</a>
Mallik Rao, Chief Technology &amp; Information Officer at O2 Telefonica, articulated a forward-looking strategy, expressing a desire to assess the cloud&#8217;s performance over several quarters and&nbsp;aiming&nbsp;to migrate a significant portion of the customer base by 2025-2026.
Transitioning the core network to a public cloud is expected to streamline operations, reduce costs, enhance scalability, and facilitate seamless repairs without service disruptions,&nbsp;thereby&nbsp;bolstering efficiency and reliability.
U.S.-based Dish notably adopted AWS cloud for its core network in 2021, a move facilitated by its greenfield approach, in contrast to existing operators with established systems, the report mentioned.
The telecom cloud market, poised for exponential growth, is projected to surge to $108.7 billion by 2030, presenting lucrative opportunities for industry players like Amazon.
Amazon stock has gained more than 78% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Consumer&nbsp;Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and&nbsp;Vanguard Consumer Discretionary ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38660100/amazon-to-invest-9b-in-singapore-cloud-infrastructure-doubling-its-current-investment" rel="noreferrer noopener">Amazon To Invest $9B In Singapore Cloud Infrastructure, Doubling Its Current&nbsp;Investment</a>
Price Action: AMZN shares closed higher by 0.03% at $188.76 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography via Shutterstock

Amazon, Telefonica's Bold Venture To Transform Telecommunications - What's On The Cards?

High-yield dividend stocks continue to attract attention, promising both steady income and potential capital appreciation. As geopolitical tensions grapple economies worldwide, the stock market has been extremely volatile, as evidenced by the CBOE Volatility Index&#8217;s 50% gains year-to-date.
Given this backdrop, investing in affordable stocks with high dividend yields can be beneficial, as investors can bank on steady dividend payouts regardless of the frequent market fluctuations, all without breaking the bank.
<h2 class="wp-block-heading">Barclays</h2>
Despite the volatility that often characterizes the financial sector, Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) has consistently maintained its position as a reliable dividend stock. The British multinational bank pays 54 cents in dividends annually, yielding 5.74% on its current stock price of $9.35.
While the bank&#8217;s financials took a hit last year due to its structural cost-cutting measures, it is currently planning a major overhaul to streamline its operations. The banking giant has set its sights on a comprehensive transformation, highlighted by significant cost reductions, asset divestitures and a restructuring of its core business divisions.
Under this ambitious plan, Barclays will segment its operations into five distinct divisions, a strategic maneuver aimed at enhancing efficiency and focus. The bank is aiming for total gross savings of 2 billion pounds and a robust Return on Tangible Equity surpassing 12% by 2026. Moreover, Barclays is committed to reducing risk exposure within its investment bank, with plans to slash risk-weighted assets to approximately 50% by 2023, down from 58% the previous year.
Additionally, the bank aims to streamline its cost-to-income ratio within the investment bank to the high 50s in percentage terms, a significant improvement from the 69% recorded in the prior year. Barclays has also pledged a staggering 10 billion pounds allocation through dividends and share repurchases between 2024 and 2026, signaling confidence in its future trajectory.
<h2 class="wp-block-heading">Nokia</h2>
In the rapidly evolving telecommunications industry, Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) has established itself as a prominent player. Despite facing stiff competition, Nokia, currently trading at $3.52, remains a solid dividend stock.
The telecom giant currently pays 13 cents in dividends annually, yielding 3.69% on its current stock price.
&#8220;In 2023 we saw a meaningful shift in customer behavior impacting our industry driven by the macro-economic environment and high interest rates along with customer inventory digestion,&#8221; Nokia CEO Pekka Lundmark said.
Nokia&#8217;s reported net profit showed an increase, reaching 438 million euros compared to 289 million euros in the previous year. Similarly, comparable net profit also witnessed growth, rising to 501 million euros from 342 million euros a year earlier.
Earlier this year, on Jan. 25, 2024, Nokia announced plans to initiate a two-year 600 million euro ($653 million) share buyback program in the current quarter. This strategic move follows the company&#8217;s acknowledgment of a profit downturn in the preceding fiscal year of 2023.
Even though JPMorgan has a &#8220;neutral&#8221; rating for NOK, it has a price target of $4.26, indicating a potential upside of over 21%.
<h2 class="wp-block-heading">Kinross Gold</h2>
Amid rising economic uncertainty and market volatility, gold has long been regarded as a safe-haven asset, offering investors a hedge against inflation and geopolitical risks. With gold prices hovering near their all-time highs of $2,383 per ounce earlier this month, investing in affordable gold stocks like Kinross Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>) could be profitable. Currently trading at $6.77, Kinross Gold pays 12 cents in dividends annually.
&#8220;2023 was a great year at Kinross and I am proud of our global team who achieved the results that underpin our reputation as strong operators. We met our production, cost and capital guidance, and completed our projects at Tasiast and La Coipa. Our portfolio of mines produced solid results, we more than doubled free cash flow year-over-year while maintaining our investment grade balance sheet, and we are carrying this momentum into 2024,&#8221; Kinross Gold President and CEO J. Paul Rollinson said in its last earnings release. &#8220;We expect to deliver another strong year in 2024, producing approximately 2.1 million gold equivalent ounces.&#8221;
The Canadian gold mining company offers investors exposure to the potential upside of gold prices while providing a steady stream of dividend income. As geopolitical tensions persist, Kinross Gold remains well-positioned to benefit from sustained demand for gold as a store of value.
<h2 class="wp-block-heading">A Reliable Income Play Backed By Real Estate Equity</h2>
Cityfunds has introduced an exclusive opportunity for accredited investors to secure an impressive 7% &#8211; 8% APY by capitalizing on the growing $32.6 trillion home equity market. The <a href="https://www.benzinga.com/go/cityfunds-yield-YF">Cityfunds Yield fund</a> provides quarterly distributions and is backed by a diversified portfolio of real estate assets, ensuring stable and robust cash flow with a commitment to safety and high returns.
<h2 class="wp-block-heading">Why the Yield Fund Stands Out</h2>
Cityfunds&#8217; Yield fund targets an 8% annual payout with a guaranteed floor of 7%, significantly higher than many traditional investment options. The fund is backed by collateralized real estate loans and home-equity agreement-backed notes. With a redemption option post a 12-month lock-up and a five-year term, this fund not only offers excellent income potential but also provides the flexibility sophisticated investors seek.
<a href="https://www.benzinga.com/go/cityfunds-yield-YF">Check out the Yield fund.</a>
<h2 class="wp-block-heading">Cityfunds Available to Non-Accredited Investors</h2>
While the Yield fund caters exclusively to accredited investors, Cityfunds offers a variety of other <a href="https://www.benzinga.com/go/cityfunds-yf">investment opportunities available to all</a>. Whether you&#8217;re looking to invest in Dallas, Miami, Los Angeles or one of several other growing markets, each Cityfund is designed to provide investors access to diversified home equity investments across the nation&#8217;s top cities. This approach spreads your investment across multiple properties, enhancing portfolio stability and minimizing risk. <a href="https://www.benzinga.com/go/cityfunds-yf">Check out the cities you can invest in today.</a>

Here&#8217;s what happened in the world of consumer tech in the last week:
Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google employees were reportedly arrested and placed on administrative leave after they staged 10-hour sit-ins at offices in New York and Sunnyvale, California, to protest the $1.2 billion <a href="https://www.benzinga.com/markets/equities/24/04/38299326/several-google-employees-arrested-in-protest-over-1-2b-israel-contract-report" target="_blank" rel="noreferrer noopener">cloud contract with Israel</a>.
Related: <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Marc Andreessen Says Google Is &#8216;Literally Run By Employee Mobs&#8217; With &#8216;Chinese Spies&#8217; Scooping Up AI Chip Designs</a>
SpaceX founder Elon Musk accepted a challenge from the Russian space agency chief, Yuri Borisov, who said Roscosmos&#8217;s Amur rocket can be reused up to five times <a href="https://www.benzinga.com/news/24/04/38288858/elon-musk-says-bring-it-on-after-russian-space-chief-touts-amur-rocket-says-it-can-be-reused-up-to-5" target="_blank" rel="noreferrer noopener">more than the Falcon 9</a>.
A Texas judge stopped the investigation of the media watchdog group Media Matters by Texas Attorney General Ken Paxton, dealing a second blow to<a href="https://www.benzinga.com/news/24/04/38243800/another-setback-for-elon-musk-after-ccdh-lawsuit-thrown-out-media-matters-wins-injunction-against-te" target="_blank" rel="noreferrer noopener"> Elon Musk in recent weeks</a>.
Related: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38307505/tesla-stock-fell-over-9-after-past-4-earnings-reports-fund-manager-offers-advice-on" target="_blank" rel="noreferrer noopener">Tesla Stock Fell Over 9% After Past 4 Earnings Reports: Fund Manager Offers Advice On How Elon Musk Can Break Woeful Streak</a>
Gaming
Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) is gearing up for the release of a more powerful version of its&nbsp;PlayStation 5 (PS5)&nbsp;console, possibly by the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38255686/sonys-ps5-pro-release-reports-say-developers-are-getting-ready-for-new-console" rel="noreferrer noopener">end of this year</a>.&nbsp;
The official Star Wars Twitter account just dropped a teaser trailer for an upcoming crossover event with Epic Games&#8217; Fortnite, set to kick off on May 3, one day before Star Wars Day. HYPEX suggested lightsabers, force powers, and a Chewbacca skin, fueling fan<a href="https://www.benzinga.com/general/gaming/24/04/38257897/star-wars-day-arrives-to-fortnite-with-epic-crossover" target="_blank" rel="noreferrer noopener"> excitement for the collaboration</a>.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38246949/bafta-games-awards-2024-guess-which-video-game-took-5-prizes-home" rel="noreferrer noopener">BAFTA Games Awards 2024: Guess Which Video Game Took 5 Prizes Home</a>
Nintendo Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) showcased adorable indie games like Little Kitty, Big City, Lorelei, and the Laser Eyes, offering diverse&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38302723/unveiling-nintendos-april-2024-indie-world-showcase-whats-in-store" rel="noreferrer noopener">experiences for players</a>.
Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) unveiled plans for an open-world &#8220;Black Panther&#8221; game developed by Cliffhanger Games <a href="https://finance.yahoo.com/quote/EA?.tsrc=fin-srch" target="_blank" rel="noreferrer noopener">through a recent job listing</a>.
Former Microsoft Blizzard President Mike Ybarra has an interesting idea: He suggested adding a tipping feature to video games. Not everyone will like the idea, but the former Blizzard president believes it&#8217;s different from other situations <a href="https://www.benzinga.com/general/entertainment/24/04/38259444/ready-to-tip-your-favorite-game-developers-former-blizzard-president-says-you-should" target="_blank" rel="noreferrer noopener">when tipping feels forced</a>.
Smartphones
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly experienced a significant decline in&nbsp;iPhone&nbsp;shipments, while its&nbsp;Android&nbsp;competitors saw a rise. Notably, Apple&#8217;s iPhone shipments fell by nearly 10% in the first quarter, while the global smartphone market saw a 7.8% increase in shipments,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38241349/apples-iphone-shipments-dip-10-while-overall-market-grows-7-8-samsung-reclaims-top-spot" rel="noreferrer noopener">reaching 289.4 million units</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38240620/potential-iphone-killer-humane-ai-pins-design-interface-inherently-flawed-says-gurman-can-merely-be" rel="noreferrer noopener">Potential iPhone Killer? Humane AI Pin&#8217;s Design, Interface &#8216;Inherently Flawed,&#8217; Says Gurman: &#8216;Can Merely Be An Extra Accessory&#8217;</a>
Apple&nbsp;CEO Cook revealed potential plans to explore manufacturing opportunities in Indonesia. This announcement follows his meeting with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38290331/tim-cook-eyes-apple-manufacturing-expansion-in-indonesia-after-talks-with-president-theres-a-lot-of" rel="noreferrer noopener">Indonesian President&nbsp;Joko Widodo</a>.
Chinese tech giant&nbsp;Huawei Technologies Co.&nbsp;has launched its latest series of smartphones, the Pura 70, to further challenge&nbsp;Apple&nbsp;in the high-end segment of the Chinese&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" rel="noreferrer noopener">market amid falling iPhone sales</a>.
Meta
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) revealed that its new large language model,&nbsp;Llama 3, has surpassed other AI models in benchmark tests. However,&nbsp;OpenAI&#8217;s&nbsp;latest flagship model,&nbsp;GPT-4, is notably&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38330339/mark-zuckerbergs-meta-says-llama-3-beats-googles-gemini-mistral-and-jeff-bezos-backed-anthropics-cla" rel="noreferrer noopener">missing from its comparison</a>. It will integrate real-time search&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38330972/metas-ai-assistant-now-integrates-real-time-google-search-bing-results-expert-calls-it-the-smart" rel="noreferrer noopener">results from Google and Bing</a>.
Anduril Industries&nbsp;and&nbsp;Oculus VR founder Palmer Luckey&nbsp;accused Meta&nbsp;&nbsp;CTO&nbsp;Andrew Bosworth&nbsp;of lying and spreading&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38246351/meta-cto-gets-called-out-by-founder-of-company-building-electronic-border-wall-you-arent-credible" rel="noreferrer noopener">false information about him</a>.
Social Media
Elon Musk&nbsp;has donated to and promoted secure messaging app&nbsp;Signal&nbsp;to take on&nbsp;WhatsApp, but another rival is closing the gap with the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38311930/elon-musk-backed-signal-to-take-on-mark-zuckerbergs-whatsapp-but-another-rival-says-its-spreading-li" rel="noreferrer noopener">Meta Platforms Inc.-owned&nbsp;service</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38311301/telegram-founder-tells-tucker-carlson-that-billion-user-platform-operates-lean-hr-free-with-only-30" rel="noreferrer noopener">Telegram Founder Tells Tucker Carlson That Billion-User Platform Operates Lean, HR-Free With Only 30 Staff: &#8216;I Am The Only Product Manager&#8217;</a>
Apple&nbsp;has removed WhatsApp and Threads from its China App Store in response&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38328967/apple-bows-to-chinas-security-concerns-pulls-2-meta-products-from-app-store" rel="noreferrer noopener">to a Chinese government order</a>.
Music
Apple Music&#8216;s&nbsp;teams have collaborated with&nbsp;Taylor Swift&nbsp;to prepare her upcoming album and promotional campaign well&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38242128/apple-teams-engaged-deeply-with-taylor-swift-on-the-tortured-poets-department-album-weve-re" rel="noreferrer noopener">before the release date</a>.
Spotify Technologies SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has been investing in artificial intelligence and machine learning for over a decade, and its latest AI DJ feature is a significant step towards personalizing the music streaming experience for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38242691/can-spotifys-ai-dj-push-you-out-of-your-musical-comfort-zone-experts-say-recommender-system" rel="noreferrer noopener">600 million subscribers</a>.
The release of Amazon&#8217;s Prime Video &#8220;Fallout&#8221; TV series has sparked a significant resurgence in player numbers across Microsoft&#8217;s Bethesda&#8217;s Fallout video game franchise, <a href="https://www.benzinga.com/general/entertainment/24/04/38260627/prime-videos-fallout-series-sparks-record-game-revival-fallout-76-hits-all-time-high" target="_blank" rel="noreferrer noopener">even for titles released years ago</a>.
Tech
Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Twitch is set to launch its new TikTok-style discovery feed after a year of testing, bringing separate feeds for clips and livestreams to all users&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38323296/twitchs-tiktok-style-feed-clips-livestreams-seamless-browsing" rel="noreferrer noopener">by the end of this month</a>.
Popular tech YouTuber MKBHD, or Marques Brownlee, kicked off a storm on social media after his Humane AI Pin review. He called it the &#8220;worst product&#8221; he has ever reviewed, weeks <a href="https://www.benzinga.com/news/24/04/38291724/do-bad-reviews-kill-companies-mkbhd-reacts-after-humane-ai-pin-video-sparks-concern-on-social-media" target="_blank" rel="noreferrer noopener">after his Fisker Ocean SUV review</a>.
Artificial Intelligence
Mistral AI CEO Arthur Mensch threw shade at rival OpenAI CEO Sam Altman, saying that the pursuit of artificial general intelligence (AGI) is <a href="https://www.benzinga.com/news/24/04/38266018/mistral-ceo-shades-openais-sam-altman-says-obsession-with-reaching-agi-is-about-creating-god" target="_blank" rel="noreferrer noopener">just an attempt at &#8220;creating God.</a>&#8220;
Elon Musk&nbsp;expressed concern over the potential dangers of AI being trained to lie for political correctness and suggested that it could be &#8220;very dangerous&#8221;&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38265325/elon-musk-warns-ais-potential-to-lie-for-political-correctness-poses-threat-to-humanity-would-be-ver" rel="noreferrer noopener">and &#8220;kill millions&#8221; in the process</a>.
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38310022/former-openai-researcher-who-predicted-theres-a-50-chance-ai-could-kill-us-all-is-now-heading-us-ai" rel="noreferrer noopener">Former OpenAI Researcher Who Predicted There&#8217;s A 50% Chance AI Could Kill Us All Is Now Heading US AI Safety Institute</a>
JPMorgan &amp; Chase Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO&nbsp;Jamie Dimon&nbsp;has outlined his vision for the future of money in an AI-driven world, emphasizing the potential of artificial intelligence (AI)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38308489/jamie-dimon-likens-ai-to-the-printing-press-says-it-will-be-a-huge-aid-to-recognize-patterns-of-succ" rel="noreferrer noopener">to revolutionize the financial sector</a>.
Microsoft Corp.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;significant $13 billion investment in&nbsp;OpenAI&nbsp;will not undergo a formal investigation by the European Union&#8217;s merger watchdogs, alleviating concerns&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38299939/eu-clears-microsofts-13b-openai-investment-from-formal-probe-a-relief-for-tech-giants" rel="noreferrer noopener">about potential regulatory interventions</a>.&nbsp;
Photo via Pixabay

Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 13-20, 2024)

<h3>Companies Reporting Before The Bell</h3>
&bull; Addex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) is estimated to report earnings for its fourth quarter.
&bull; Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $5.09 billion.
&bull; Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is likely to report quarterly earnings at $1.31 per share on revenue of $18.41 billion.
&bull; TH International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THCH#NASDAQ">THCH</a>) is projected to report earnings for its fourth quarter.
&bull; Ohmyhome (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMH#NASDAQ">OMH</a>) is likely to report earnings for its Fiscal Year 2023.
&bull; Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) is likely to report quarterly loss at $0.97 per share on revenue of $2.13 billion.
&bull; Snap-on (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNA#NYSE">SNA</a>) is projected to report quarterly earnings at $4.65 per share on revenue of $1.20 billion.
&bull; Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $253.42 million.
&bull; Infosys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>) is likely to report quarterly earnings at $0.17 per share on revenue of $4.55 billion.
&bull; Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) is expected to report quarterly earnings at $0.47 per share on revenue of $89.01 million.
&bull; Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $1.98 billion.
&bull; Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) is estimated to report quarterly earnings at $2.16 per share on revenue of $5.84 billion.
&bull; Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) is likely to report quarterly earnings at $1.12 per share on revenue of $807.79 million.
&bull; KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $1.51 billion.
&bull; Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) is projected to report quarterly earnings at $10.49 per share on revenue of $42.62 billion.
&bull; Badger Meter (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $182.26 million.
&bull; S&amp;T Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STBA#NASDAQ">STBA</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $95.94 million.
&bull; ManpowerGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAN#NYSE">MAN</a>) is likely to report quarterly earnings at $0.91 per share on revenue of $4.43 billion.
&bull; Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is expected to report quarterly earnings at $0.98 per share on revenue of $2.53 billion.
&bull; Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) is estimated to report quarterly earnings at $0.15 per share on revenue of $193.75 million.
&bull; Apogee Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $337.83 million.
&bull; OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) is projected to report quarterly earnings at $0.97 per share on revenue of $152.67 million.
&bull; Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) is estimated to report quarterly earnings at $2.80 per share on revenue of $6.39 billion.
&bull; Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) is expected to report quarterly earnings at $0.46 per share on revenue of $240.40 million.
&bull; Forestar Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOR#NYSE">FOR</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $325.91 million.
&bull; D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) is likely to report quarterly earnings at $3.06 per share on revenue of $8.28 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $109.71 million.
&bull; Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is expected to report earnings for its first quarter.
&bull; Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $92.95 million.
&bull; Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) is expected to report quarterly earnings at $1.67 per share on revenue of $697.64 million.
&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $174.77 million.
&bull; Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) is expected to report earnings for its first quarter.
&bull; Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $171.99 million.
&bull; First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $22.97 million.
&bull; Alpine Income Prop Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINE#NYSE">PINE</a>) is projected to report quarterly earnings at $0.38 per share on revenue of $11.63 million.
&bull; Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is projected to report quarterly earnings at $1.34 per share on revenue of $64.56 million.
&bull; Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is likely to report quarterly earnings at $4.50 per share on revenue of $9.26 billion.
&bull; OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $87.72 million.
&bull; PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) is expected to report quarterly earnings at $1.86 per share on revenue of $4.43 billion.
&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $9.50 million.
&bull; Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) is estimated to report quarterly earnings at $1.41 per share on revenue of $1.87 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 18, 2024

Nokia Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) reported a fiscal first-quarter 2024 net sales decline of 20% year-on-year (19% in constant currency) to €4.67 billion ($5.07 billion), missing the consensus of $5.10 billion. Comparable EPS was $0.10 (€0.09) versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.06</a>.&nbsp;
The reported net profit is €438 million, up from €289 million <a href="https://www.nokia.com/system/files/2024-04/nokia_results_2024_q1.pdf">a year ago</a>. Comparable net profit was €501 million, up from €342 million a year earlier.
Network Infrastructure sales declined by 26% year over year in CC due to the weak demand environment. Cloud and Network Services sales decreased by 13% year over year in CC. Nokia Tech sales climbed by 216% year over year, driven mainly by signing patent license agreements with OPPO, Vivo, and other licensees.
Mobile Network sales declined by 37% year over year in CC due to some moderation in the pace of 5G deployment in India. Net sales slowed primarily due to North America, where demand remained weak.
Margins:&nbsp;Gross margin climbed by 1,040 bps to 47.9%, and comparable gross margin improved by 1,090 bps to 48.6%. The margins reflected the benefits of the catch-up net sales in Nokia Technologies and strong improvements in Mobile Networks gross margin, in part due to a more favorable regional and product mix.
The operating margin increased by 130 bps to 8.6%, and the comparable operating margin grew by 460 bps to 12.8% as licensing catch-up net sales more than made up for low net sales coverage of operating expenses impacting other business groups.
Nokia&nbsp;held €5.1 billion in cash and equivalents and generated €955 million in free cash flow.
Dividend and Buyback:&nbsp;The Board resolved to distribute a dividend of €0.04 per share.
FY24 Outlook:&nbsp;Nokia&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36775961/nokias-sales-slide-despite-big-deals-with-apple-and-samsung-whats-next-for-this-tech-giant" rel="noreferrer noopener">reaffirmed 2% – 8% growth</a>&nbsp;for Network Infrastructure sales, (15)% – (10)% change in Mobile Networks sales, and (2)% – 3% change in Cloud and Network Services sales.
Nokia reiterated comparable operating profit of between €2.3 billion – €2.9 billion and free cash flow conversion from a comparable operating profit of 30% – 60%.
The&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">fiscal 2024 revenue</a>&nbsp;and adjusted EPS consensus are $23.56 billion and $0.36.
Nokia stock plunged 29% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Digital Infrastructure And Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and&nbsp;Defiance Quantum ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NYSE">QTUM</a>).
Price Action: NOK shares traded higher by 0.90% at $3.36 premarket Thursday.
Image: Nokia

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Despite Revenue Dip, Nokia's Q1 Net Profit and Technology Patents Fuel Growth

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Nokia shares are trading higher after the company reported Q1 financial results.

Nokia&#39;s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion to 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%. &nbsp;

Nokia Reaffirms 2024 Outlook: Comparable Operating Profit Of €2.3B-€2.9B And Free Cash Flow Conversion From Comparable Operating Profit Of 30%-60%

Nokia Q1 Adj. EPS €0.09 Up From €0.06 YoY, Sales €4.667B Down From €5.859B YoY

Correction Needed : &nbsp;JP Morgan analyst Sandeep Deshpande maintains Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) with a Neutral and lowers the price target from $4.39 to $4.26.

Price Target

Analyst Ratings

Correction: JP Morgan Maintains Neutral on Nokia, Lowers Price Target to $4.26

JP Morgan analyst Sandeep Deshpande maintains Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) with a Overweight and lowers the price target from $4.39 to $4.26.

JP Morgan Maintains Overweight on Nokia, Lowers Price Target to $4.26

Nokia shares are trading higher in sympathy with Ericsson, which reported better-than-expected Q1 EPS results.

Ericsson&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) has announced plans to lay off 1,200 employees in Sweden to adjust to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36737778/ericssons-q4-sales-plunge-16-as-global-challenges-weigh-forecasts-further-decline-outside-china" rel="noreferrer noopener">decreased demand and</a>&nbsp;the cautious approach of mobile service providers towards orders.&nbsp;
This workforce reduction is part of a broader strategy to cut costs, which includes downsizing facilities, lessening reliance on consultancy services, and streamlining existing&nbsp;<a target="_blank" href="https://www.ericsson.com/en/press-releases/2024/3/ericsson-announces-headcount-reduction" rel="noreferrer noopener">processes</a>.&nbsp;
These job cuts, which account for approximately 8.6% of Ericsson&#8217;s Swedish workforce as of the end of 2023, are currently under discussion with labor unions.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36190702/whats-going-on-with-nokia-stock-tuesday" rel="noreferrer noopener">Nokia Cuts Financial Outlook Amid Market Challenges, Adjusts 2026 Margin Target</a>
This move reflects the broader challenges facing the European telecom equipment sector, with companies like Ericsson and&nbsp;Nokia Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) needing help in recovering from a widespread spending slowdown within the mobile services industry, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-25/ericsson-to-cut-1-200-jobs-in-sweden-to-cope-with-lower-spending?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reflects</a>.
Ericsson had previously signaled a pessimistic outlook for 2024, predicting a continued market decline outside China due to investment levels by operators being critically low.&nbsp;
Analysts anticipate that Ericsson will experience a surge in the latter half of 2024 due to its $14 billion agreement with&nbsp;AT&amp;T Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
The reduction in network expenditure by mobile carriers, coupled with concerns over the competitive landscape in Europe affecting investment returns, poses significant challenges for Ericsson and Nokia.&nbsp;
Additionally, the rise of open radio access network (RAN) technologies threatens to intensify competition by enabling carriers to diversify their vendor base more efficiently.
This announcement follows Ericsson&#8217;s decision a year before to reduce its global staff by 8,500 employees, representing around 8% of its total workforce, to navigate the challenging market conditions.&nbsp;
Nokia, another key player in the industry, had also revealed plans to eliminate up to 14,000 jobs, or 16% of its workforce.
Ericsson stock gained 8% in last six months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Digital Infrastructure And Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and&nbsp;Defiance Next Gen Connectivity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIVG#NYSE">FIVG</a>).
Price Action:&nbsp;ERIC shares traded lower by 0.18% at $5.42 on the last check Monday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37239259/nokia-and-nvidia-join-forces-to-transform-telecom-with-ai-driven-ran-technology" rel="noreferrer noopener">Nokia and Nvidia Join Forces to Transform Telecom with AI-Driven RAN Technology</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Mats Wiklund via Shutterstock

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Ericsson Cuts 1,200 Swedish Jobs Due to Falling Orders

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Reddit Is Evaluating A Letter From Nokia Technologies Alleging It Infringed Some Of The Telecom And Cloud Network Firm's Patents, The Social Media Platform Said On Tuesday, Ahead Of Its High-Profile Initial Public Offering This Week

Nokia launches first phase of share buyback program Espoo, Finland – In line with the share buyback program announced on 25 January 2024, Nokia Corporation ("Nokia" or the "Company") has today decided to launch the first phase of the share buyback program. The main terms of the first phase of the share buyback program:
<ul>
<li>The aggregate purchase price of all Nokia shares to be acquired shall not exceed EUR 300 million.</li>
<li>The repurchases will start at the earliest on 20 March 2024 and end by 18 December 2024.</li>
<li>The purpose of the repurchases is to optimize Nokia's capital structure through the reduction of capital. The repurchased shares will be cancelled accordingly. The repurchases will be funded using funds in the reserve for invested unrestricted equity and the repurchases will reduce total unrestricted equity.</li>
<li>The repurchases are based on the authorization granted by Nokia's Annual General Meeting on 4 April 2023. The maximum number of shares that can be repurchased under the first phase of the program is 200 million shares corresponding to approximately 4 % of the total number of shares in Nokia.</li>
<li>The shares will be acquired through public trading on the regulated market of Nasdaq Helsinki and select multilateral trading facilities. No repurchases will be made in the United States. Nokia has appointed a third-party broker as the lead-manager for the first phase of the buyback program. The lead-manager will make trading decisions independently of and without influence from Nokia. The repurchases will be carried out in accordance with the so-called safe harbour rules referred to in Article 5 of the EU Market Abuse Regulation (EU N:o 596/2014).</li>
<li>The price payable per share shall be determined in public trading on the relevant trading venue at the time of the repurchase, in compliance with the price and volume limits applicable under the safe harbour rules.</li>
</ul>
Nokia may terminate the program prior to its scheduled end date and will in such case issue a stock exchange release to this effect.

Buybacks

Nokia Launches First Phase Of €300M Share Buyback Program

Nokia's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) short percent of float has risen 14.29% since its last report. The company recently reported that it has 22.39 million shares sold short, which is 0.4% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.65 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Nokia Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710444617_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Nokia has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Nokia's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Nokia's peer group average for short interest as a percentage of float is 7.93%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Nokia's Recent Short Interest

Wipro Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>, BSE: 507685, NSE: WIPRO)), a leading technology services and consulting company, today announced a joint private wireless solution with Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>), to help enterprises scale their digital transformation. This joint solution will provide enterprises with a more secure 5G private wireless network solution integrated with their operation infrastructure. The solution will bring greater reliability, mobility, connectivity speed, real-time access to business insights, and the ability to process high volumes of data with low latency. Through a dedicated wireless network, enterprises will be able to create an integrated private environment they can control to better manage their performance and mitigate security risks.

Tech

Wipro, Nokia Announced Joint 5G Private Wireless Solution To Speed Up Enterprise Digital Transformation

Verizon Communications Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) inked a pact with&nbsp;Volkswagen AG&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAPY#OTC">VWAPY</a>) Audi AG to build a state-of-the-art private wireless network and tech-testing environment&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36770067/verizons-guidance-surprise-analysts-boost-forecast" rel="noreferrer noopener">at Audi&#8217;s automotive test track in Neustadt, Germany.&nbsp;</a>
The advanced wireless network&nbsp;<a target="_blank" href="https://www.globenewswire.com/news-release/2024/02/22/2833608/0/en/Verizon-Business-building-highly-customized-private-5G-environment-for-Audi-AG-automotive-test-track.html" rel="noreferrer noopener">replicates</a>&nbsp;global market conditions for Audi and VW Group brands, including Verizon&#8217;s U.S. network and European counterparts.
The Audi test track integrates a cutting-edge tech setup, including&nbsp;Nokia Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) dual 5G and LTE platform, AWS&#8217; MEC capability, Smart Mobile Labs&#8217; real-time transmission, C-V2X, and a range of mobile and automotive applications.
The dynamic multi-core network integrates an onsite private test network with replicas of Verizon&#8217;s U.S. public network, local European networks, and Audi&#8217;s MVNO partner networks in Asia-Pacific.
&#8220;Increasingly, vehicles are not just about transportation, but a means of communication, entertainment, education, and work &#8212; effectively, rolling cell phones and high-powered computers,&#8221; said TJ Fox, SVP of IIoT and Automotive, Verizon Business.&nbsp;
&#8220;That means the vehicle of the future will be packed with technology that needs to work under many different sets of network conditions, and Audi and Verizon Business are solving for those needs with this state-of-the-art facility,&#8221; Fox added.
Price Action:&nbsp;VZ shares are trading lower by 0.12% to $40.68 premarket on the last check Friday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Verizon Communications Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) inked a pact with&nbsp;Volkswagen AG&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAPY#OTC">VWAPY</a>) Audi AG to build a state-of-the-art private wireless network and tech-testing environment&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36770067/verizons-guidance-surprise-analysts-boost-forecast" rel="noreferrer noopener">at Audi&#8217;s automotive test track in Neustadt, Germany.&nbsp;</a>
The advanced wireless network&nbsp;<a target="_blank" href="https://www.globenewswire.com/news-release/2024/02/22/2833608/0/en/Verizon-Business-building-highly-customized-private-5G-environment-for-Audi-AG-automotive-test-track.html" rel="noreferrer noopener">replicates</a>&nbsp;global market conditions for Audi and VW Group brands, including Verizon&#8217;s U.S. network and European counterparts.
The Audi test track integrates a cutting-edge tech setup, including&nbsp;Nokia Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) dual 5G and LTE platform, AWS&#8217; MEC capability, Smart Mobile Labs&#8217; real-time transmission, C-V2X, and a range of mobile and automotive applications.
The dynamic multi-core network integrates an onsite private test network with replicas of Verizon&#8217;s U.S. public network, local European networks, and Audi&#8217;s MVNO partner networks in Asia-Pacific.
&#8220;Increasingly, vehicles are not just about transportation, but a means of communication, entertainment, education, and work &#8212; effectively, rolling cell phones and high-powered computers,&#8221; said TJ Fox, SVP of IIoT and Automotive, Verizon Business.&nbsp;
&#8220;That means the vehicle of the future will be packed with technology that needs to work under many different sets of network conditions, and Audi and Verizon Business are solving for those needs with this state-of-the-art facility,&#8221; Fox added.
Price Action:&nbsp;VZ shares are trading lower by 0.12% to $40.68 premarket on the last check Friday.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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Verizon Business Partners With Audi For Customized Private 5G Network At Automotive Test Track

Nokia Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) revealed a partnership with&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) aimed at revolutionizing AI-ready radio access network (RAN) solutions, marking a significant step forward in their anyRAN strategy.&nbsp;
This collaboration seeks to embed AI at the core of transforming telecommunications networks, focusing on delivering enhanced value through new AI services in the telco&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2024/02/21/nokia-to-revolutionize-mobile-networks-with-cloud-ran-and-ai-powered-by-nvidia/" rel="noreferrer noopener">sector</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37227169/nvidias-upcoming-earnings-to-set-tone-for-ai-investment-rush-wall-street-analysts-s" rel="noreferrer noopener">Nvidia's Upcoming Earnings to Set Tone for AI Investment Rush, Wall Street Analysts Say</a>
Nokia will work alongside Nvidia to develop Cloud RAN solutions that utilize the Nvidia Grace CPU Superchip for advanced Layer 2+ processing.&nbsp;
This effort will also incorporate Nokia's efficient In-Line Layer 1 (L1) accelerator technology, Cloud RAN software, Nvidia GPUs for AI applications, and vRAN acceleration, heralding the advent of AI-RAN.
Based on the cutting-edge Arm Neoverse V2 CPU architecture, the Nvidia Grace CPU CPU offers exceptional performance, energy efficiency, and broad connectivity to meet comprehensive data center needs.&nbsp;
This collaboration promises Nokia's customers a range of CPU choices for their Cloud RAN networks, ensuring diversity and flexibility.
Furthermore, Nokia has successfully conducted end-to-end 5G data calls in multi-vendor configurations, highlighting the practical achievements of their collaborative efforts with several partners.
In January, Nokia reported a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36775961/nokias-sales-slide-despite-big-deals-with-apple-and-samsung-whats-next-for-this-tech-giant" rel="noreferrer noopener">fiscal fourth-quarter</a>&nbsp;2023 net sales decline of 23% year-on-year to $6.14 billion, missing the consensus of $7.05 billion. The company disclosed significant long-term deals with&nbsp;Apple Inc&nbsp;
(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Samsung Electronics Co, Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and OPPO.&nbsp;
Price Action:&nbsp;NOK shares traded higher by 0.57% at $3.51 on the last check Wednesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/m-a/24/02/37236499/samsung-divests-asml-stake-to-bolster-chipmaking-capabilities-amid-global-tech-race" rel="noreferrer noopener">Samsung Divests ASML Stake to Bolster Chipmaking Capabilities Amid Global Tech Race</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

NVDA

SSNLF

Nokia and Nvidia Join Forces to Transform Telecom with AI-Driven RAN Technology

Nokia today announced that it is collaborating with NVIDIA to revolutionize the future of AI-ready radio access network (RAN) solutions. The collaboration, which further enhances Nokia&rsquo;s anyRAN approach, aims to position AI as fundamental to transforming the future of the telecommunications network business. As AI is poised to change the landscape of telecommunications infrastructure and services within the mobile operator sector, this collaboration aims to deliver incremental value to end users through the introduction of innovative telco AI services.
Nokia will collaborate with NVIDIA on Cloud RAN solutions that leverage the NVIDIA Grace&trade; CPU Superchip for Layer 2+ processing, Nokia&rsquo;s high-performance, energy-efficient In-Line Layer 1 (L1) accelerator technology, and Cloud RAN software. Additionally, Nokia will use NVIDIA GPUs for AI applications and vRAN acceleration, paving the way for AI-RAN.

Nokia to Revolutionize Mobile Networks with Cloud RAN and AI Powered by Nvidia

As part of the agreement, Nokia will adopt Dell as its preferred infrastructure partner for existing Nokia AirFrame customers, offering Dell&#39;s technology as the infrastructure of choice for telecom cloud deployments. Nokia and Dell will help transition existing AirFrame customers over time to Dell&#39;s broad infrastructure portfolio

Contracts

DELL

Dell Technologies And Nokia Announce Extension Of Strategic Partnership To Use Each Company's Solutions

7 Considerations After Nokia's First-Quarter 2024 Earnings

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There are three <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> and cryptos for investors to consider in April this year. I think that these companies could rally significantly moving forward.



The major stock market indices like the S&amp;P 500 and Nasdaq Composite have had a strong start to 2024, with substantial gains. This impressive run-up has led to concerns about <a href="https://www.nasdaq.com/articles/analysis-us-stocks-may-not-be-in-a-bubble-but-a-pullback-could-be-near">valuations getting stretched</a> and the potential for a short-term correction. Many market analysts are predicting a pullback in the coming weeks. This is happening as investors take some profits, but remain bullish on the long-term outlook.



I believe that pullback could be on cards. However, after such a correction occurs, it could lead the valuations of these meme stocks and cryptos to shoot off the new heights. Renewed interest by bulls has been the catalyst.



This year could be volatile thanks to the Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) halving event due in a few days and the continued surge in tech and other disruptive sectors leading the charge. Meme stocks and cryptos could be a speculative option for taking advantage of these trends.



<h2>BlackBerry (BB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/bb1600-300x169.png" alt="BlackBerry Limited logo. Company was originally known as Research In Motion (RIM), a Canadian software company specializing in cybersecurity.. BB stock"><div>Source: Poetra.RH / Shutterstock.com</div></div>Once known for its smartphonesBlackBerry (NYSE:<a href="https://investorplace.com/stock-quotes/bb-stock-quote/">BB</a>) became a meme stock due to interest from retail investors on platforms like Reddit (NYSE:<a href="https://investorplace.com/stock-quotes/rddt-stock-quote/">RDDT</a>).



For 2024, BB is implementing <a href="https://www.blackberry.com/us/en/company/newsroom/press-releases/2024/blackberry-provides-update-on-progress-in-separation-of-divisions-and-path-to-profitability">significant strategic changes</a>. This includes restructuring into standalone divisions for IoT and cybersecurity, which are expected to drive the company towards profitability. The firm has taken substantial steps towards this goal. This includes reducing its annual cost run rate by approximately $50 million through headcount reductions and other cost-saving measures.



Looking further ahead, BB&rsquo;s management has reiterated their focus on achieving profitability for each division. They plan to maintain a positive net cash position throughout the fiscal year. This is happening despite the initial financial outlay required for restructuring.



With the stock falling around 37% over the past year, I believe that BB could be in the prime position to shooting higher once it falls into more undervalued territory. This makes it one of those meme stocks that investors should pay attention to.



<h2>Dogecoin (DOGE-USD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/shutterstock_1997554382-300x169.png" alt="One Golden Dogecoin Coin on keyboard, Meme coins to sell"><div>Source: Zarko Prusac / Shutterstock.com</div></div>Originally started as a joke, Dogecoin (<a href="https://investorplace.com/cryptocurrency/doge-usd/">DOGE-USD</a>) quickly became a symbol of meme cryptocurrency. It continues to be one of the most iconic meme cryptos in the market today. Some analysts predict that it could rally after Bitcoin&rsquo;s halving event.



Some are optimistic, <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">with predictions of moderate growth</a>, expecting DOGE to reach up to $0.3392 by the end of the year. Others offer a more cautious forecast, suggesting a price around $0.20. The potential for reaching or even exceeding $1 by 2025 is noted by some analysts.



DOGE was sold off amid a possible interest rate reduction freeze and the continued instability in the Middle East, falling around 4% over the last five days. However, it should be noted that Bitcoin was trading at overvalued levels in the events prior, which means that a pullback could be seen as healthy for the market.



With DOGE closely correlated with BTC, I expect that DOGE will rally strongly in the days ahead once bulls regain their appetite for risk amid the halving event.



<h2>Nokia (NOK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/08/nokia-nok-1600-300x169.jpg" alt="a backdrop featuring the Nokia logo with a mobile phone featuring the Nokia logo on its screen in the foreground"><div>Source: rafapress / Shutterstock.com</div></div>Nokia (NYSE:<a href="https://investorplace.com/stock-quotes/nok-stock-quote/">NOK</a>) gained meme status during the retail trading frenzy, and remains as one of those meme stocks to watch for the rest of the year.



For 2024, Nokia is <a href="https://www.telecomlead.com/telecom-equipment/nokia-alters-2023-financial-outlook-forecasts-2024-growth-amid-licensing-hurdles-113948">forecasting growth</a> despite the hurdles faced in 2023. The company anticipates improvements in its network businesses, supported by positive order trends, particularly in network infrastructure.



Looking further ahead, by 2026, Nokia aims to achieve an <a href="https://www.nokia.com/about-us/news/releases/2023/12/12/inside-information-nokia-provides-an-update-on-group-strategy-2026-comparable-operating-margin-target-and-preliminary-assumptions-for-2024/">operating margin</a> of at least 13%. This adjustment is a slight decrease from the previously targeted 14% margin. It plans this through pursuing growth in various technology segments including 5G, cloud, and network services. NOK is primed for a strong rally this year. Analysts predict EPS will rise by 192.15%. This forecast also comes with a predicted upside of around 30% for its stock price and top-line expansion.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/meme-market-madness-3-stocks-coins-to-ride-the-hype-train/">Meme Market Madness: 3 Stocks &amp; Coins to Ride the Hype Train</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Meme Market Madness: 3 Stocks & Coins to Ride the Hype Train

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Dell Technologies (DELL – Research Report) and Nok...

Analysts Offer Insights on Technology Companies: Dell Technologies (DELL) and Nokia (NOK)

Warning: NOK is at high risk of cutting its dividend

Chips likely to show 'broad-based' headwinds with AI, PCs shining: Susquehanna

Nokia and Vodafone complete successful Open RAN trial in Italy

O2 Telefonica to launch cloud-based 5G core network through Amazon Web Services

CGI, Nokia sign agreement

In the fast-paced world of tech, demand is booming for innovative solutions and cutting-edge hardware. This sets the perfect stage for tech powerhouses Nokia (NOK), Dolby Laboratories (DLB), and Indra Sistemas (ISMAY) to ride the wave and seize growth opportunities in this dynamic industry. Keep reading... This year, tech stocks have been the market's shining stars, driving it to new heights. The Technology Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLK/">XLK</a>) has been a standout, soaring 35.1%, outpacing the S&amp;P 500's 25.4% returns in the past year. Given this trend, tech giants Nokia Oyj (<a href="https://stocknews.com/stock/NOK/">NOK</a>), Dolby Laboratories, Inc. (<a href="https://stocknews.com/stock/DLB/">DLB</a>), and Indra Sistemas, S.A. (<a href="https://stocknews.com/stock/ISMAY/">ISMAY</a>), could be excellent investment opportunities, as they currently exhibit solid upward momentum.
Tech services are the lifeline for communication, work, and entertainment in our hyper-connected world. With AI, and IoT leading the charge, the future is buzzing with possibilities for the tech sector. Global IT spending is set to soar by <a href="https://www.gartner.com/en/newsroom/press-releases/2023-10-18-gartner-forecasts-worldwide-it-spending-to-grow-8-percent-in-2024#:~:text=Worldwide%20IT%20spending%20is%20projected,supporting%20overall%20IT%20spending%20growth.">8% in 2024</a>, hitting a staggering $5.10 trillion, as businesses gear up for digital transformation and innovation.
Moreover, the tech hardware industry is booming due to increasing demand for components in display devices and IoT, coupled with technological advancements driving frequent device upgrades. The electronic market is expected to reach $847.88 billion by 2032, <a href="https://www.fortunebusinessinsights.com/electronic-components-market-109245">growing at a CAGR of 10.1%</a>.
Let's now delve into a comprehensive examination of the top tech stocks.
Nokia Oyj (<a href="https://stocknews.com/stock/NOK/">NOK</a>)
Headquartered in Espoo, Finland, NOK offers innovative mobile, fixed, and cloud network solutions worldwide. With its four distinct segments, Mobile Networks; Network Infrastructure; Cloud and Network Services; and Nokia Technologies, the company serves a diverse clientele, including communications service providers, webscales, digital industries, and government agencies.
NOK's trailing-12-month EBIT and net income margins of 10.24% and 3.89% are 120.8% and 61.5% higher than the industry averages of 4.64% and 2.41%, respectively.
On May 8, 2024, NOK and O2 Telefónica in Germany announced the deployment of 5G standalone core software on Amazon Web Services (AWS) in Espoo, Finland. This deployment highlights NOK's multi-cloud capabilities and its leadership in 5G standalone core technology, with 107 CSP customers globally.
On April 30, NOK and Vodafone Group Public Ltd. Co. (<a href="https://stocknews.com/stock/VOD/">VOD</a>) successfully concluded an end-to-end Open RAN trial on Vodafone Italy's live 5G standalone network in Espoo, Finland. The trial showcased NOK's AirScale Massive MIMO radios and baseband software running on Dell PowerEdge XR8000 servers and Red Hat OpenShift.
In the fiscal first quarter that ended March 31, 2024, NOK's net sales stood at €4.67 billion ($5.03 billion). Its gross margin and operating margin rose to 47.9% and 8.6%, respectively, from 37.5% and 7.3% in the previous-year quarter. Its profit for the period and EPS improved 51.6% and 50% year-over-year to $438 million ($471.43 million) and $0.08.
For the fiscal year 2024, NOK expects its comparable operating profit to range from €2.30 billion ($2.48 billion) to €2.90 billion ($3.12 billion). Its free cash flow is likely to converge 30% to 60% from the comparable operating profit.
Street expects NOK's revenue for the third quarter (ending September 2024) to increase 9.6% year-over-year to $5.78 billion. Its EPS for the same quarter is expected to rise 68.5% from the prior-year quarter to $0.09.
Over the past six months, the stock has gained 9% to close the last trading session at $3.74. It is currently trading above its 50-day and 100-day moving averages of $3.57 and $3.53, indicating an uptrend.
NOK's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Value. In the 47-stock <a href="https://stocknews.com/category/technology-communication-networking/">Technology – Communication/Networking</a> industry, it is ranked #8.
Click <a href="https://stocknews.com/stock/NOK/">here</a> to see NOK's ratings for Growth, Momentum, Stability, Sentiment, and Quality.
Dolby Laboratories, Inc. (<a href="https://stocknews.com/stock/DLB/">DLB</a>)
DLB pioneers audio and imaging technologies that revolutionize entertainment across various platforms, including cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles.
DLB's trailing-12-month EBIT and net income margins of 18.79% and 15% are 305.1% and 522.4% higher than the industry averages of 4.64% and 2.41%, respectively.
The company pays an annual dividend of $1.20, which yields 1.45% at current market prices. This is higher than its four-year average dividend yield of 1.20%. Over the past five years, it has raised its dividend payouts at a CAGR of 10.3%.
DLB reported a total revenue of $364.52 million for the second quarter ended on March 29, 2024. Within this, revenue from products and services saw a notable 8.2% year-over-year increase, reaching $26.28 million. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> was $325.75 million for the quarter.
Furthermore, non-GAAP net income attributable to DLB and EPS came in at $123.19 million and $1.27, up marginally from the prior year's quarter, respectively. The company's total assets stood at $3.04 billion as of March 29, 2024, compared to $2.98 billion as of September 29, 2023.
As per DLB's fiscal 2024 third-quarter outlook, the company anticipates total revenue to fall between $270 million and $300 million, with non-GAAP EPS projected to range from $0.51 to $0.66. Looking ahead to the full year, DLB expects total revenue to reach $1.30 billion, with non-GAAP EPS in the range of $3.60 to $3.75.
The market anticipates DLB's revenue to increase 12.4% year over year and EPS to surge 30.3% year over year for the fiscal fourth quarter ending September 2024, reaching $326.60 million and $0.59, respectively. Additionally, DLB has exceeded consensus EPS estimates in each of the last four quarters, which is promising.
DLB's stock soared 1.2% intraday to close the last trading session at $82.94. It trades above its 10-day and 50-day moving averages of $80 and $81.64.
DLB's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has an A grade for Quality. DLB is ranked #4 in the 43-stock <a href="https://stocknews.com/category/technology-electronics/">Technology – Electronics</a> industry.
In addition to the POWR Ratings above, one can access DLB's additional Growth, Sentiment, Stability, Momentum, and Value grades <a href="https://stocknews.com/stock/DLB/">here</a>.
Indra Sistemas, S.A. (<a href="https://stocknews.com/stock/ISMAY/">ISMAY</a>)
Based in Alcobendas, Spain, ISMAY operates as a technology and consulting company worldwide. It designs, develops, produces, integrates, operates, maintains, repairs, and markets systems, solutions, and services based on the use of information technologies; computing, electronics, and communications.
ISMAY's trailing-12-month EBIT and net income margins of 8.11% and 4.85% are 74.8% and 101.4% higher than the industry averages of 4.64% and 2.41%, respectively.
During the fiscal first quarter ended March 31, 2024, ISMAY's total revenues increased 21.9% year-over-year to €1.14 billion ($1.23 billion). Also, its net income increased 40.1% year-over-year to €61.2 million ($65.87 million), while its EPS increased 52.2% year-over-year to €0.35.
Analysts expect ISMAY's revenue to increase 8.3% year-over-year to $5.10 billion for the year ending December 2024.
The stock has gained 47.5% over the past six months to close the last trading session at $10.18. It is currently trading above its 50-day and 100-day moving averages of $9.84 and $8.67.
ISMAY's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Growth, Value, and Stability. It is ranked #16 in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
To see ISMAY's additional ratings for Sentiment, Momentum, and Quality, click <a href="https://stocknews.com/stock/ISMAY/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>
&nbsp;

<hr />
NOK shares were trading at $3.72 per share on Wednesday morning, down $0.02 (-0.53%). Year-to-date, NOK has gained 10.28%, versus a 8.95% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/nok-dlb-ismay-vod-3-tech-stocks-on-the-verge-of-major-gains/>3 Tech Stocks on the Verge of Major Gains</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks on the Verge of Major Gains

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Since the&nbsp;Dow Jones Industrial Average&nbsp;and&nbsp;S&amp;P 500&nbsp;have gained 6% and 10% year-to-date, now is the time to buy&nbsp;<a target="_blank" href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a>&nbsp;under $20.



Investors are&nbsp;<a target="_blank" href="https://www.reuters.com/markets/rates-bonds/feds-rate-cut-confidence-likely-shaken-not-yet-broken-by-inflation-2024-03-20/">anticipating three rate cuts</a>&nbsp;from a now dovish Federal Reserve, and even though GDP growth&nbsp;<a target="_blank" href="https://www.reuters.com/markets/us/slow-solid-us-economic-growth-anticipated-q1-inflation-likely-heats-up-2024-04-25/">slowed down in Q1</a>, corporate profits are&nbsp;strong, which is often a good sign of how healthy the market is.



Investors are happy because the economy is neither too hot (which may produce inflation and an overheated economy) nor too cold (which could bring a recession)&mdash;<a href="https://www.morganstanley.com/ideas/stock-market-2024-priced-for-perfection" target="_blank">a Goldilocks state</a>. This equilibrium boosts stock prices;&nbsp;Goldman Sachs&nbsp;<a href="https://www.goldmansachs.com/intelligence/pages/the-sp-500-index-is-forecast-to-return-six-percent.html" target="_blank">predicts</a>&nbsp;the S&amp;P 500 will rise 6% to 4,700 in 2024.



In the middle of this, we will explore three <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> under $20, all with more than 50% upside.



The first competitor, a former mobile phone service giant, is making a&nbsp;strong&nbsp;return by shifting its focus to 5G technology. The second pick works in quantum computing, a niche area expected to expand by 33% in five years. The final stock is a&nbsp;key&nbsp;oil transportation provider, profiting from increased worldwide shipping costs.



<h2>Nokia (NOK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/11/nok1600-300x169.png" alt="Nokia (NOK) sign, logo, emblem at Nokia Solutions and Networks building, branch of global Finnish company, telecommunications equipment supplier."><div>Source: OleksSH / Shutterstock.com</div></div>Former mobile phone giant&nbsp;Nokia&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nok-stock-quote/">NOK</a>) is a 5G contender, with a potential 60% upside from a $6 average price target versus the last close of $3.74.



Nokia&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2023/12/12/inside-information-nokia-provides-an-update-on-group-strategy-2026-comparable-operating-margin-target-and-preliminary-assumptions-for-2024/#:~:text=We%20want%20to%20provide%20better,more%20value%20for%20our%20shareholders.%E2%80%9D&amp;text=As%20a%20conclusion%20to%20Nokia's,%25%20to%20at%20least%2013%25.">plans to achieve</a>&nbsp;a 13% operating margin by 2026 in its new company strategy and business goals. To streamline operations and focus on 5G, safety, and SaaS,&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2023/12/20/nokia-announces-deal-to-sell-device-management-and-service-management-platform-businesses-to-lumine-group/">Nokia will sell Lumine Group</a>&nbsp;its Device Management and Service Management Platform businesses to improve efficiency for $203.1 million.



Nokia&rsquo;s portfolio management&nbsp;is&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2023/06/29/nokia-and-red-hat-announce-partnership-for-new-best-in-class-telecommunications-solutions-based-on-red-hat-infrastructure-platforms-and-nokias-core-network-applications/">shown&nbsp;by its sale</a>&nbsp;of VitalQIP technology to Cygna Labs Corp. and the adoption of Red Hat as its network app infrastructure. Nokia&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2024/02/21/nokia-to-revolutionize-mobile-networks-with-cloud-ran-and-ai-powered-by-nvidia/">is also changing</a>&nbsp;how Mobile Networks work to expand its business into O-RAN, Cloud RAN, and the military.



Patents are&nbsp;very important&nbsp;to Nokia because they protect its new ideas and keep the company ahead of the competition in the tech industry. On that note,&nbsp;Apple&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) and Samsung&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2023/06/30/nokia-and-apple-sign-long-term-patent-license-agreement/">now have long-term</a>&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2023/01/23/nokia-and-samsung-sign-5g-patent-license-agreement/">technology license deals</a>&nbsp;with Nokia, covering cars, media players, and consumer gadgets.



Regarding recent milestones, Nokia finished the first Cloud RAN test with In-Line acceleration for MEA, which improved mobile network technology. Additionally, Nokia and Zayo set a record for North America&rsquo;s&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/news/releases/2024/01/18/nokia-and-zayo-achieve-new-north-american-distance-record-for-800gbs-transmission-on-live-network/#:~:text=Espoo%2C%20Finland%20%2D%20Nokia%20and%20Zayo,Paso%20on%20a%201866km%20link.">longest live network transfer</a>&nbsp;distance at 800Gb/s.



Finally, Nokia is developing new products and revamping models, such as the Nokia 2660 Flip, which has new colors. It also hints at a 5G version for India, perhaps the Nokia G42 5G.



<h2>IonQ (IONQ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/quantum-computing-ionq-1600-300x169.jpg" alt="A concept image of a processor representing quantum computing. IONQ Stock. quantum computing stocks"><div>Source: Amin Van / Shutterstock.com</div></div>Quantum computing play&nbsp;IonQ&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/ionq-stock-quote/">IONQ</a>) is&nbsp;not&nbsp;profitable&nbsp;as of yet.&nbsp;However, considering the allure of quantum computing, a market expected to grow&nbsp;at&nbsp;33% between 2024 and 2029, the market opportunity is tremendous, reflected by its &ldquo;Strong Buy,&rdquo; rating and&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/ionq/forecast">86% upside</a>&nbsp;potential.



But the proof is in the pudding: IonQ&nbsp;<a target="_blank" href="https://ionq.com/posts/how-we-achieved-our-2024-performance-target-of-aq-35">reached 35 algorithmic qubits</a>&nbsp;on its IonQ Forte platform, one year ahead of schedule, a&nbsp;major&nbsp;engineering milestone.



IonQ also took a big step toward building future quantum networks by adding to its technology skills. It&rsquo;s working on adding optical interconnects to allow processing across quantum networks, which&nbsp;is very different&nbsp;from traditional setups, where work&nbsp;is split up&nbsp;among many separate cores and processors.



IonQ also revealed that the first&nbsp;<a target="_blank" href="https://ionq.com/news/ionq-opens-doors-to-first-dedicated-quantum-computing-manufacturing-facility">specialized quantum computing production plant</a>&nbsp;will open in the U.S. in Bothell, Washington.&nbsp;This&nbsp;is a big step toward making quantum computing available to the public.



Additionally, IonQ&rsquo;s systems&nbsp;<a target="_blank" href="https://cloud.google.com/blog/products/compute/ionq-quantum-computer-available-through-google-cloud">are now available</a>&nbsp;on almost all major cloud platforms, such as Amazon Web Services, Microsoft Azure, and Google Cloud, and can accessed directly through APIs.



<h2>DHT Holdings (DHT)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2017/06/dhtmsn-300x165.jpg" alt=""><div>Source: Shutterstock</div></div>DHT Holdings&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/dht-stock-quote/">DHT</a>) completes our list of undervalued stocks under $20, a large oil tanker firm potentially benefitting from global shipping price improvements.



Wall Street analysts&nbsp;<a target="_blank" href="https://www.tipranks.com/stocks/DHT/forecast">rate DHT a &ldquo;moderate buy,&rdquo;</a>&nbsp;with an average price goal of $19, implying 63% upside.



DHT Holdings&nbsp;<a target="_blank" href="https://www.dhtankers.com/dht-holdings-inc-business-update-9/">predicted $50,900 per day</a>&nbsp;from time charters in Q1 2024 in April. Its spot market and time charter VLCCs make $54,000 and $39,500 daily, respectively. Despite being lower than the spot market, the time charter rate provides steady income, but spot market charters illustrate strong demand.



Along with the $54,200 discharge-to-discharge rate, 42% of second-quarter 2024 spot days&nbsp;are booked. Spot and time-charter days&mdash;54% of possible earnings&mdash;are at $46,900 per day.



Geopolitical energy and transportation events benefit DHT Holdings. The oil produced worldwide&nbsp;<a target="_blank" href="https://www.worldbank.org/en/news/press-release/2023/10/26/commodity-markets-outlook-october-2023-press-release">could&nbsp;go down&nbsp;by 500,000</a>&nbsp;to 2 million barrels per day in a &ldquo;small disruption&rdquo; scenario, increasing DHT Holdings&rsquo; oil tanker demand.



Middle Eastern conflict has increased &ldquo;ton-miles&rdquo; (cargo volume and distance) by raising crude oil prices and road length.&nbsp;Very large&nbsp;crude carriers, or VLCCs, allow DHT&rsquo;s tanker fleet to transport large amounts over long hauls during geopolitical tensions, boosting profits.



DHT Holdings&nbsp;<a target="_blank" href="https://www.dhtankers.com/dht-orders-four-large-vlccs/">will build four VLCCs</a>&nbsp;in South Korea from April to December 2026, helping leverage increased demand and charter prices.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.<a href="https://investorplace.com/stock-quotes/-stock-quote/"></a>
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-3-most-undervalued-under-20-stocks-to-buy-in-may-2024/">The 3 Most Undervalued Under-$20 Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Most Undervalued Under-$20 Stocks to Buy in May 2024

AVGO

INTC

IONQ

ISMAY

MRVL

NOKBF

TELDF

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Opinion

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Thinking about buying stock in Ibio Inc, Nokia, C4 Therapeutics, 1847 Holdings, or CleanSpark?

Dell Technologies and Nokia Announce Strategic Partnership to Advance Network Cloud Transformation and Private 5G

Wipro and Nokia Launch Joint 5G Private Wireless Solution to Speed up Enterprise Digital Transformation

CCCC

CHPT

CLSK

EFSH

FUSN

IBIO

LULU

MIGI

MLGO

Applied Optoelectronics, Inc. - Common Stock

Applied Optoelectronics

Adtran Holdings

Arista Networks

Aviat Networks

Calix

Ciena

Clearfield

CommScope Holding Company, Inc. - Common Stock

CommScope Hldg Co

Cisco Systems

Digi Intl

Ericsson - American Depositary Shares each representing 1 underlying Class B share

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Nokia Stock (NYSE:NOK), Short Interest Report

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