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imageStock Markets4 minutes ago (Sep 27, 2021 11:31AM ET)

(C) Reuters. Is Nokia a Buy Under $6?

With its shares currently trading at less than under $6, mobile and network company Nokia (NYSE:NOK) reported that it had witnessed strong momentum across all business categories in its last quarter. So, given the rapid deployment of 5G infrastructure and the company’s major product launches, is the stock now poised to soar in price? Read on.Finland-based network solution provider Nokia Corporation (NOK) specializes in network and Internet protocol (IP) infrastructure, software, and associated services. The company’s shares have gained 45.3% in price over the past year and 42.7% year-to-date to close Friday’s trading session at $5.58. Its strong top-line growth, driven by improvement across all its business segments in its last reported quarter, and major product launches have driven its shares this year.

We think NOK is well-positioned to continue gaining in the near term, relying on its solid fundamentals. Furthermore, its expanding landscape for 5G networks is expected to boost its performance in the coming months.

Here’s what could shape NOK’s performance in the near term:

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Is Nokia a Buy Under $6?

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Is Nokia a Buy Under $6?

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