Nokia Hits April Lows Despite Beating Q2 Earnings Estimates

Nokia stock closed at $9.73 on Thursday, marking a 5.35 percent decline that pushed the price to its lowest point since April 2026. This move continues a sharp slide that began in June, leaving the stock down roughly 44 percent from its $17.45 peak. The selling pressure intensified after the company failed to excite investors, despite reporting second quarter operating profits of 434 million euros, which topped analyst expectations of 382 million euros.

While Nokia saw AI related sales double to 446 million euros, the market focused on supply chain risks. CEO Justin Hotard warned that memory shortages, specifically DRAM supply being consumed by AI companies, could persist into 2027. This potential for higher component costs, paired with weak demand in the fixed networks division, soured the outlook for shareholders.

Technical analysis shows the stock has broken below the key 0.618 Fibonacci level of $10.41, which now acts as a new resistance point. Increased selling volume confirms the bearish momentum, and the daily Relative Strength Index is nearing oversold territory at 32. If the current trend holds, the price could target $8.50, a level that previously served as a consolidation zone in early 2026.