Nokia Hits New High ahead of Memorial Day Shutdown for Stock Market

Quick overview

Nokia Corp. (NOKIA) stock shot up more than 8% on Friday, setting a high for the last 52-weeks as the company launched a new AI lab and enjoyed a price upgrade from multiple investment firms.

Wall Street is behind Nokia right now, setting new price targets for the stock. Currently at $13.05 per share, the stock could hit $16.50 according to Morgan Stanley. The news came just before the markets closed down for the Memorial Day weekend, which means that investors will be ready to pounce on this stock as soon as markets reopen on Tuesday morning.

Nokia just launched its AI Network Innovation Lab, and that puts them on the map as a potential mover in the AI niche. The company is also primed to reap the rewards of rapid data center growth by providing infrastructure for cloud providers and hyperscalers.

Nokia Becomes a Stock to Watch

Recently, Nokia has infiltrated the data center market in a big way, creating necessary services for companies working in the AI space. Their data center network infrastructure is absolutely essential to growth in the expanding marketplace, making it easier for companies focused on high capacity memory and cloud services to have the resources they require to make those services available to their customers.

Nokia has already seen tremendous growth in that sector, and that is why they had to build their innovation lab to keep up with the workload demand. As investment firms and analysts reassess Nokia’s role in the market, they are seeing incredible value in what the company has to offer. This is why the upside for Nokia’s stock is around 20%.

That is what analysts expect Nokia to reap in revenue growth as well. Argus reevaluated them and said the stock was a Buy while calling for a $15 price target. JPMorgan considers this stock a Buy as well, joining the growing numbers of banks and other financial institutions that see the potential in Nokia’s impressive growth for the year so far.

Nokia performed well enough in Q1 2026 that they were able to improve sales for customers in the AI and cloud spaces by 49% when compared to the same quarter last year. Those customers make up nearly 10% of their revenue, and Nokia sees the importance in growing that part of the company to meet rising demand.

Stock market indices remain close to all-time highs, with all three major indices (Dow, S&P 500, and Nasdaq) ticking upward on Friday. Part of the reason the markets are up for now is the promise of an imminent end to the war with Iran. President Trump spoke last week about a peace deal coming soon, but investors are hesitant to jump on that news since similar announcements have been made before and not come through.

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Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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