Nokia (NYSE:NOK) Stock Soars 90% Since Mid-March: What to do Now?

The age of 5G is almost here, and it is all set to upend the mobile internet industry. In such a situation, it could be worthwhile for investors to have a closer look at some viable 5G plays, and one stock that could be tracked at this point is that of Nokia Oyj (NYSE:NOK). The company may have been known for mobile handsets in a different era, but now Nokia is involved in providing network equipment.

Key Metrics to Watch

The company is currently involved in the 5G space, and its first fiscal quarter performance was not disastrous. Moreover, the company is not entirely dependent on its 5G segment either, and that could be another positive for investors.

In the fiscal first quarter of the year, the company’s operating margin, operating profit and loss and earnings per share had all been in the negative. However, the important thing was that Nokia managed to post a year on year improvements. The company managed to generate sales to the tune of $4.913 billion in the quarter, and in addition to that, in Euro terms, Nokia also managed to squeeze out diluted earnings per share of 1 cent. The company also revealed that it is going to invest in 5G in order to speed up the production of new offerings in this space this year.

While Nokia did not reveal specific details about its 5G investments, it needs to be mentioned that the company recently clocked 4.7 gigabits per second in 5G speeds. That is a world record and could help the company is positioning itself as the leading player in the 5G market.

It goes without saying that it is a major positive for the company and analyst Stéphane Téral of LightCounting has said the same. At this point, the company is not only a 5G focussed company, but Nokia is expected to invest heavily in this sector, and that could make it one of the major players in the segment.

About Travis Garlick 1791 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.