Can Nokia Stock Push Above $10 on Strategic Deals, Earnings Hopes, and Bullish Bets?

Quick overview

Nokia shares are gaining momentum as investor optimism builds ahead of earnings, supported by strong partnerships, strategic shifts, and rising market confidence.

Momentum Builds Ahead of Key Events

Nokia shares are extending gains after a strong close last week and an 8% jump at the start of the new week. Investor focus is now turning to the company’s upcoming annual general meeting and first-quarter results due on April 23.

The timing is significant, as the shareholder meeting may offer insights into capital allocation, leadership changes, and strategic priorities just ahead of earnings. This combination is helping to drive renewed interest in the stock.

Governance Changes and Capital Returns in Focus

At the upcoming meeting, investors will vote on key leadership changes, including the appointment of Timo Ihamuotila as chair following the departure of Sari Baldauf. In addition, Meredith Whittaker is set to join the board, bringing experience from the Signal Technology Foundation.

Shareholders will also consider a proposed dividend payout of up to €0.14 per share, alongside authorization for share buybacks and new issuances of up to 550 million shares. These measures reflect a more active capital return strategy aimed at boosting shareholder value.

Strategic Shift Toward Enterprise and Data Infrastructure

Under CEO Justin Hotard, Nokia is repositioning its business to focus more on enterprise solutions and data infrastructure. This shift comes as growth in traditional 5G radio equipment has slowed, prompting the company to diversify into more stable revenue streams.

Nokia is leveraging its unique position as a provider of both O-RAN and Cloud-RAN solutions, giving telecom operators greater flexibility in building next-generation networks. This capability is becoming increasingly valuable as operators seek alternatives to legacy vendors.

At the same time, the company is expanding into fiber and broadband infrastructure through passive optical networking, a segment benefiting from rising global investment in connectivity.

Partnerships Strengthen Market Position

Strategic collaborations continue to play a key role in Nokia’s growth. Its partnership with Virgin Media O2 has helped accelerate 5G deployment in the UK, contributing to the recent surge in the stock price.

Nokia is also working with Google Cloud and Telia Finland to enhance network performance and efficiency through advanced technologies. These partnerships are expanding Nokia’s reach beyond traditional telecom infrastructure into enterprise and cloud-driven networking solutions.

Additionally, reported use of Nokia technology in data centers operated by Apple strengthens its credibility in high-profile enterprise deployments.

Nokia Chart Daily – Buyers Remain in Control

Nokia shares have been trading up since August last year, when the price fell below $3.50, now trading above $7. Moving averages have been acting as support during pullbacks, helping keep the trend bullish. We saw a dip below $7 in the last two weeks, but the sentiment has improved this week, and Nokia shares are back up above %7.30 on the way to $10.

Bullish Positioning Signals Investor Confidence

Market activity suggests growing optimism around Nokia’s near-term outlook. Options traders have been actively buying call contracts across both short-term and longer-dated expirations, signaling expectations of further upside.

Particular focus has been on April contracts, aligning with the upcoming earnings release. This surge in bullish positioning indicates that investors are anticipating strong results or positive guidance.

Analyst Support Reinforces Outlook

Sentiment has also been supported by upgrades from major financial institutions. Morgan Stanley and Goldman Sachs have both raised their price targets, reflecting confidence in Nokia’s evolving business model and growth prospects.

Such endorsements often attract additional investor interest and help sustain upward momentum in the stock.

Leadership and Organizational Alignment

Nokia has also strengthened its leadership team with the appointment of Kristen Pressner as Chief People Officer. Based in Espoo, she will work closely with senior management to align the company’s culture and workforce strategy with its long-term objectives.

This move supports Nokia’s broader transformation as it adapts to a rapidly changing telecommunications landscape.

Outlook

Nokia’s recent rally reflects a combination of improving sentiment, strategic execution, and growing investor confidence ahead of key events. While challenges remain in traditional network segments, the company’s expansion into enterprise, broadband, and data infrastructure markets provides a clearer path for sustainable growth.

ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

Nokia Stock Soars Toward $10 on Bullish Bets and 5G Partnerships Ahead of Earnings

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