US Stock Movement | Nokia rises about 3% in pre-market trading as JPMorgan sharply raises its target price to $14

Glonghui, April 27｜Nokia (NOK.US) rose about 3% pre-market to $10.77. According to reports, JPMorgan has significantly raised Nokia's target price from $8.2 to $14, which is almost a doubling in value. The core logic behind the institution’s optimistic outlook is that Nokia is no longer the old mobile phone manufacturer, but a telecom giant seizing the AI computing infrastructure boom and undergoing a revaluation. Institutions widely believe Nokia has successfully transformed from a traditional telecom equipment supplier into an indispensable core provider for AI computing networks. The CEO revealed that the single-quarter capital expenditure of leading global cloud service providers has already surpassed the annual level of large telecom companies, and nine of these cloud providers have become Nokia’s clients.