Is Nokia a Buy, Sell, or Hold in 2026?

I owned Nokia (NYSE: NOK) banal reasonably recently. After holding the Finnish mobile communications instrumentality specialist's shares for astir 4 years, I cashed successful that humble presumption successful July 2024 for a full instrumentality of 12.5%. The S&P 500 (SNPINDEX: ^GSPC) scale scored a full instrumentality of 68.6% implicit the aforesaid period, and I didn't spot immoderate catalysts that would crook Nokia's underperformance around.

That was a mistake. Nokia continued to conflict for astir different twelvemonth but sprang to beingness successful autumn 2025. As of Feb. 19, Nokia has posted a 97.7% full instrumentality since I sold my shares. The S&P 500? A 24.7% gain.

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At this point, I would beryllium beating the marketplace by the tegument of my teeth from November 2020 to February 2026.

So Nokia is intelligibly doing thing right. But what's next? Let's spot if Nokia is simply a buy, sell, oregon hold.

Nokia's fiscal results were mixed successful 2025, but the banal inactive saw large gains aft the 2 latest net reports. You person to excavation deeper than the modular headlines to fig retired why. As it turns out, Nokia has a beardown pipeline of incoming instrumentality orders, signaling beardown revenues successful 2026 and beyond.

Furthermore, the institution precocious reorganized its reporting operation from 4 arsenic important segments to 2 superior divisions. The revamped concern exemplary is built astir "powering the AI supercycle," according to CEO Justin Hotard. It's each astir AI-native mobile networks looking guardant to the incoming 6G upgrade opportunity.

Nokia's investors person embraced this ambitious strategy, lifting the banal to prices not seen since 2015.

Wall Street is sending mixed signals astir Nokia's stock. The expert community's mean terms people is $6.87 per share, astir 10% beneath existent prices and evenly divided betwixt "buy" and "sell" recommendations. On the upside, little than 1% of Nokia's shares are sold short, giving it the look of a classical worth banal with minimal bearish bets.

6G networks are a important portion of Nokia's semipermanent concern plan. This procreation of wireless exertion volition not beryllium a immense velocity boost, focusing connected reliable connectivity everywhere, with little operating costs and milder biology impacts than 4G and 5G networks. Nokia expects wireless AI services and quantum computing systems to "become inextricably linked to the network."