contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
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            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
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            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nokia-q4-thursday-patent-revenues-postponed-2024

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

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description

changedAt

Analyst

Atte Riikola

Nokia is a global telecommunications company. The company offers solutions in IP, broadband, digital health, and cloud-based systems. The customers are found in a broad base of markets and consist of large corporate customers, authorities, and private consumers. The business is established on a global level in all regions. Nokia was founded in 1865 and the head office is located in Esbo, Finland.

For a few years now, it has looked like investors are calling the shots while analysts are left trailing behind. JP Morgan seems to have kept pace with the developments to some extent. It would be a surprise if there isn’t a buying opportunity in Q1 after rallies like this! If Nokia starts developing edge computing / AI + 6G applications with the U.S. military, there is certainly plenty of upside. I consider this scenario almost a certainty, unless a local 6G manufacturer manages to step in. Nokia is churning out patents while developing technology for applications and will start monetizing once the tech can be harnessed for civilian use, naturally taking good margins from the military side first. It is always a great spot for app developers when the technology they are building on has already been field-tested. It’s difficult to estimate how much the military sector, and the growing patent portfolio and innovations that come with it, will yield in the long run. If it even happens.  I’ll have to start thinking again about what price I’d be willing to pay per share, just considering the opportunities the earnings report might bring.

Nokia and Orange advance AI‑RAN innovation with NVIDIA Nokia and Orange today announced a new collaboration focused on developing and evaluating artificial intelligence radio access network (AI-RAN) technologies powered by Nokia’s anyRAN 5G software and NVIDIA AI infrastructure. The initiative aims to explore how emerging AI-RAN capabilities can enhance network performance, energy efficiency and enable new services for Orange customers. https://www.nokia.com/newsroom/nokia-and-orange-advance-airan-innovation-with-nvidia/

As a side note, I don’t recall analysts raising target prices at this kind of pace following a continued rise in the share price for at least 10 years. It seems to be going in the style of “the target price is €7.50 because the upside potential is huge – and a couple of weeks later the same analyst says the target price is €8.50 because the upside potential feels even greater than before.” Oh right, and those same parties probably said just a few months ago that the target price is €4.50. Quite a run Nokia has going now.  Btw. the Q1/2026 earnings release is already starting to be just around the corner.

NOKIA: DEUTSCHE BANK RAISES PRICE TARGET TO 8.50 EUROS (7.50) today at 09.51 ∙ Nyhetsbyrån Direkt STOCKHOLM (Nyhetsbyrån Direkt) Deutsche Bank raises Nokia’s price target from 7.50 euros to 8.50 euros. The buy recommendation is reiterated. This is stated in an update. The stock closed at 8.74 euros on the previous trading day.

Data Center Construction Delays and Their Impact on Nokia According to Bloomberg, an estimated 30–50% of US data center projects planned for 2026 are being delayed or canceled. This is not just a timing issue, but due to various infrastructure bottlenecks:  Power Grid: Connection queues to the main grid are now typically 5–10 years, and lead times for critical electrical components (transformers, switchgear) are 3–5 years. Optical Components: The market is partially sold out until 2026 (Ciena) or even until 2027–2028 (Lumentum).  The absence of even one critical component can delay an entire project, stretching out the investment cycle and spreading it into the late 2020s. Potential Impacts on Nokia Nokia’s San Jose 6-inch InP (Indium Phosphide) factory ramp-up and new optical platforms are scheduled for late 2026 and 2027. In a fast cycle, a large part of the demand could have been locked in by competitors before Nokia’s capacity became available. Now, power grid constraints may keep the door open until Nokia reaches the necessary scale, assuming that projects are not canceled but delayed or moved to less constrained locations within or outside the US. Secondly, when electricity availability is a significant constraint, performance per watt becomes a key criterion. Nokia’s vertical integration and InP-based photonics can support lower power consumption at the system level, which is accentuated in an electricity-constrained environment. Thirdly, the importance of supply chain reliability increases. A vertical model, where Nokia manages its own chip design and component manufacturing, reduces dependence on external, currently congested supply chains. The slowdown in data center construction could, therefore, at least to some extent, benefit Nokia. A slower pace, for the reasons mentioned, reduces the severity of Nokia’s backlog and highlights the company’s strengths, particularly in energy efficiency and supply chain reliability.

While BofA raised Nokia’s target to €10.7, it is more conservative with Ericsson, targeting Underperform at SEK 88 (previously SEK 89). The stock price today is SEK 110. “BofA cuts Ericsson stock price target on flat market outlook” https://www.investing.com/news/analyst-ratings/bofa-cuts-ericsson-stock-price-target-on-flat-market-outlook-93CH-4609454

Nokia selected by SkyFiber to build fiber network for underserved communities in Northern Nevada https://www.nokia.com/newsroom/nokia-selected-by-skyfiber-to-build-fiber-network-for-underserved-communities-in-northern-nevada/

Nokia

We have updated our forecasts to take into account the extension of patent negotiations in Nokia Technologies into this year and the divestment to be made in Cloud and Network Services. For other areas, we will review our forecasts in the context of the Q4 report

<p>We have updated our forecasts to take into account the extension of patent negotiations in Nokia Technologies into this year and the divestment to be made in Cloud and Network Services. For other areas, we will review our forecasts in the context of the Q4 report</p> 

	2022	23e	24e
Revenue	24,911.0	22,695.7	22,461.4
growth-%	12.2 %	-8.9 %	-1.0 %
EBIT (adj.)	3,109.0	2,263.0	2,504.0
EBIT-% (adj.)	12.5 %	10.0 %	11.1 %
EPS (adj.)	0.44	0.28	0.33
Dividend	0.12	0.14	0.16
Dividend %	2.8 %	1.6 %	1.8 %
P/E (adj.)	9.9	30.6	26.5
EV/EBITDA	6.2	16.6	16.8

Nokia Q4 on Thursday: Patent revenues postponed to 2024

Key Estimate Figures2024-01-17

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