Nokia’s Correction Intensifies: FMR Sheds Nearly 19 Million Shares as the Stock Flirts with €10
Published on 07/13/2026 at 21:33 | Redaktion boerse-global.de
Nokia’s painful correction gathered pace on Monday, with the stock sliding 5.98% to €10.30 after a major backer quietly reduced its position. FMR LLC sold 18.94 million shares last week, paring its stake from 298.78 million to 279.84 million — a disposal worth roughly €206 million based on Friday’s close of €10.96. The move adds a layer of ownership uncertainty to a sell-off that has now wiped more than 30% from the 52-week high hit on June 3.
The technical damage is mounting. Monday’s drop pushed the stock 31.2% below the June peak of €14.97 and left it trading well under its 50-day moving average of €12.08. The 100-day average of €9.89 remains the last major floor, and with the price now hovering just above it, traders are watching the €10 handle as a psychological line in the sand. The relative strength index has fallen to 40.1, approaching oversold territory, while the annualised 30-day volatility has spiked above 72% — a sign of fraying investor nerves.
That nervousness is striking given the run of positive company news. Nokia has chalked up a string of contract wins in cloud computing, defence technology and optical networks, and analysts have responded with upgraded price targets. Danske Bank raised its rating from Hold to Buy with a €14 target, and a separate analyst lifted the target to €15.60, citing an improved position in AI and cloud infrastructure. Yet the stock keeps falling — a pattern that suggests the market had already priced the good news during Nokia’s extraordinary rally. Since the start of the year the shares are still up 85%, and over twelve months they have more than doubled.
Should investors sell immediately? Or is it worth buying Nokia?
The disconnect between operational momentum and share price performance mirrors a broader rotation out of AI-exposed names. Semiconductor stocks have collectively lost over a trillion dollars in market value as Wall Street questions how quickly the record spending on AI infrastructure will translate into sustainable profits. Nokia, a supplier of network equipment that underpins AI data centres, is caught in the downdraft. The Federal Reserve is not helping: Chair Kevin Warsh, who took over in May, struck a hawkish tone at his first FOMC meeting in June, keeping rates at 3.50–3.75% while signalling that nine of 18 policymakers favour further hikes. Higher financing costs make it harder to justify debt-fuelled AI investments, a headwind for any company dependent on carrier capex.
Nokia’s legacy telecom business remains a drag. The fixed networks division reported a 13% revenue decline as operators hold back spending on traditional infrastructure. Management is pivoting toward optical networks, enterprise services and cloud connectivity, but those growth areas are not yet large enough to offset the weakness elsewhere. In the first quarter, comparable net sales rose 4% on a currency-adjusted basis, while AI and cloud revenue jumped 49% and now accounts for 8% of total sales. The comparable gross margin came in at 45.5% and the operating margin at 6.2%, both solid but not yet sufficient to alter the macro narrative.
All eyes are now on the quarterly report due July 23. Nokia must demonstrate that the operating profit in the second quarter reaches 12% to 16% of the full-year comparable operating profit target of €2.0–2.5 billion. If the numbers confirm that the AI and cloud pivot is gaining traction, the stock could stabilise around the current support zone. If not, the €10 mark — and the 100-day moving average beneath it — will face a decisive test. For now, the market is treating Nokia’s improving fundamentals as a side note to a sector-wide repricing that shows no signs of letting up.
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Nokia Stock: New Analysis - 13 July
Fresh Nokia information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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