Added to YB: 2026-07-28
Pitch date: 2026-07-25
NOK [neutral]
Nokia Oyj
-0.7%
current return
Author Info
No bio for this author
Company Info
Nokia Oyj, together with its subsidiaries, provides mobile, fixed, and cloud network solutions in North and Latin America, Greater China, India, Asia Pacific, Europe, the Middle East, and Africa.
Market Cap
EUR 46.0B
Pitch Price
EUR 9.32
Price Target
N/A
Dividend
1.70%
EV/EBITDA
15.66
P/E
69.69
EV/Sales
2.18
Sector
Communications Equipment
Category
turnaround
Nokia’s Real AI Bet: From Infinera’s Optics to anyRAN
NOK (overview): Telecom infra turnaround w/ growing AI exposure, not yet an AI pure-play. Q2'26 Network Infra +12% cc, Optical +20%, IP +16%, AI/cloud sales +105%, €2.8B AI orders. But FCF -€732M on working-capital build, weak earnings, restructuring ongoing. Infinera = near-term optical earnings engine; NVIDIA ($1B stake, 2.9%, anyRAN/6G) = duration optionality, yet no committed revenue. Author: don't pay AI multiple for profits several cycles away.
Read full article (17 min)