NOK got MO!
The Sunny Side of $28/€20
Yet another daily, weekly, and (almost) 6 year NYSE NOK closing high was set on Friday.
• NOK closed the week on NYSE at $28.19 (up +$0.81 +2.96%).
NOK hasn't seen $28+ since June 11 2001.
• On the HEX NOK1V finished off a strong run this week by adding another 2.70% on Friday to finish the week at €20.90.
NOK is up +11.3% in the last month, +41.2% for the last 6 months, +27.7% for the last year, and NOK share price has doubled in 3 years. Nokia has made a fine recovery from its H1 2004 crash and is up 159% from its 8 year low of $10.89 set in August 2004.
NOK on NYSE in 2007: Weekly Closes, Weekly Volumes, and 5 Year Performance
Week Ending Week Close Volume NASDAQ Close
=========== ========== ========== ============
6/01/2007 28.19 48,084,000 2613.9199
5/25/2007 26.67 47,799,500 2557.1899
5/18/2007 27.04 60,858,200 2558.4500
Nokia increases its Q2 2007 device market share outlook - May 14, 2007
5/11/2007 25.07 53,904,200 2562.2200
5/04/2007 25.39 42,398,600 2572.1499
4/27/2007 25.60 42,854,400 2557.2100
4/20/2007 25.05 75,628,300 2526.3899
1Q 2007 Results - Thursday, April 19, 2007
4/13/2007 23.79 54,192,800 2491.9399
4/05/2007 23.54 44,007,000 2471.3401
3/30/2007 22.92 45,864,800 2421.6399
3/23/2007 22.97 52,722,100 2456.1799
3/16/2007 21.85 43,938,500 2372.6599
3/09/2007 21.66 50,222,300 2387.5501
3/02/2007 21.14 74,803,700 2368.0000
2/023/2007 22.84 44,956,700 2515.1001
2/016/2007 23.14 63,741,800 2496.3101
2/09/2007 21.74 54,691,000 2459.8201
2/02/2007 22.07 71,365,200 2475.8799
1/26/2007 21.58 152,375,600 2435.4900
4Q 2007 and CY2007 Results - Thursday, January 25, 2006
1/19/2007 20.13 68,058,900 2451.3101
1/12/2007 19.49 84,635,900 2502.8201
1/05/2007 19.84 59,150,300 2434.2500
Wireless Sector Market Leaders and Challengers (Handset, Infra, ICs) Performance¹
6/01 Close CYTD One Year Two Years Three Years Five Years
========== ======= ======== ========= =========== ==========
Nokia (NOK) $28.19 +38.73% +27.73% +65.14% +105.47% +103.10%
TI (TXN) $35.92 +27.64% +12.50% +29.26% +38.90% +25.29%
QUALCOMM (QCOM) $42.77 +13.18% -09.10% +12.08% +25.70% +170.35%
Ericsson (ERIC) $38.19 -05.07% +17.98% +21.59% +38.37% +1,620.27%
Motorola (MOT) $18.36 -10.70% -15.04% +04.97% -07.69% +14.82%
S&P 500 1,536.34 +08.32% +19.49% +27.79% +37.03% +43.97%
·
Market Cap. TTM Revenue Net
Company/Symbol (Millions) (Millions) Margin P/E Price
============== =========== ============ ======== ===== =======
Nokia (NOK) $115,439.20 $55,961.89 10.3% 20.0x $27.38
QUALCOMM (QCOM) $71,287.59 $8,190.00 32.1% 29.2x $42.77
Ericsson (ERIC) $65,620.51 $24,850.33 14.9% 16.6x $38.39
TI (TXN) $51,498.84 $14,112.00 18.5% 21.0x $35.92
Motorola (MOT) $42,496.39 $42,704.00 5.6% 19.3x $18.36
·
¹ Source: Reuters ProVestor
The Cramer Effect
Like him or lump him, it never hurts to have Jim Cramer the host of CNBC's Mad Money and co-founder of TheStreet.com, fanning the momentum flames of the stock of a quality large cap that's on a roll here in the US of A. On Friday's STOP TRADING! segment on CNBC, Cramer focused on Dell (DELL), EMC (EMC), and Sears (SHLD). He also stated that he likes Nokia (NOK), which he called "the Tim Duncan¹ of the group" and stated that the handset company has "momentum" and when it has that, "you give Nokia the ball."
¹ Perrenial all-pro power forward for the NBA's San Antonio Spurs.
The Market Effect
Obviously we are in the throes of a sustained Bull market and enjoying its fruits. The Dow Jones industrials gained 40.47 points Friday to close at a record 13,668. The Standard & Poor's 500 Index gained 5.7 points to end Friday's session at 1,536 its first record high since March 2000 and the NASDAQ Composite bounced up 9.4 points to close at 2,613. Nokia just happens to have positioned itself to take full advantage of this market by gaining share, potentially increasing margins and ASP while mid-stream in an across the board product line refresh while continuing share buybacks. As a consequence they are deservedly setting new 6 year highs and outperforming all market leading large caps in wireless sector.
A little cooling is probably in order, and Q2 earnings are still 2 months out, but after working through the dog days of summer Nokia will enter its traditionally strong Q4 with its broad product range in better shape relative to competition than it has in recent memory. ###
Welcome aboard, mate.
Cheers,
- Eric -
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