Market Performance of Nokia and IBM
Investors who lost faith in Nokia, BlackBerry, Ericsson, or Cisco Systems missed their recent rally, with Nokia gaining over 60% from its 52-week low and adding 9.7% after its quarterly report.
Nokia's Quarterly Report
Nokia's network infrastructure segment delivered 11% net sales growth in the third quarter, with Optical Networks growing by 19% thanks to AI and Cloud customers, as stated by CEO Justin Hotard:
AI and Cloud customers contributed to the growth of Optical Networks.
Network forecasts also indicate that venture fund investments will add EUR 0.1 billion to its operating profit, with a full-year profit forecast of EUR 1.7 billion to 2.2 billion.
IBM's Performance
IBM's stock slipped towards its 50-day moving average but then jumped 9.31% on Oct. 24, closing at $307.46, a new 52-week high, after posting a 7% revenue growth rate in Q3. CEO Arvind Krishna noted that clients turned to IBM as a trusted partner for embedded AI and infrastructure.
Author's summary: Nokia and IBM show promising growth in AI and cloud services.
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