Mobile phones are becoming more prevalent especially in areas like the Far East. NOK is also moving aggressively to implement the internet with wireless services. The stock sharp correction in the summer and early fall was due to a slowdown in earnings growth. However, TTD sees a resumption in good growth. Importantly, earnings growth in the second half will be very strong.
Stocks always move ahead of the news.
NOK has extremely strong tape action. It should move higher. Nevertheless, TTD sees NOK has an excellent long-term play. We see now as a good entry point looking for the stock to climb to 56 to 58 within six months. A protective stop can be placed near 38.