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Why Nokia Rallied Even on a Terrible Day for Tech Stocks
Shares of Nokia (NYSE: NOK) rallied 4.4% on Monday, despite the Nasdaq Composite (NASDAQINDEX: ^IXIC) plunging 2.64% today, with many tech hardware stocks dropping much more than that.How did Nokia defy the odds? The company announced a partnership between itself, Verizon, and Lockheed Martin. The new partnership has apparently achieved a breakthrough in hybrid 5G communications, which could open up more of the defense market to Nokia's 5G hardware.On Sunday, Nokia announced that it had integrated its 5G technology into Lockheed Martin's telecommunications base stations. In a blog post, a Nokia engineer outlined how the integration marked a "significant milestone," as it showed how commercial 5G equipment can become integrated into military equipment with tougher security and performance requirements. So, the new breakthrough has the potential to open up more defense and government-oriented mobile networks sales, it seems.Continue reading
Shares of Nokia (NYSE: NOK) rallied 4.4% on Monday, despite the Nasdaq Composite (NASDAQINDEX: ^IXIC) plunging 2.64% today, with many tech hardware stocks dropping much more than that.
How did Nokia defy the odds? The company announced a partnership between itself, Verizon, and Lockheed Martin. The new partnership has apparently achieved a breakthrough in hybrid 5G communications, which could open up more of the defense market to Nokia's 5G hardware.
On Sunday, Nokia announced that it had integrated its 5G technology into Lockheed Martin's telecommunications base stations. In a blog post, a Nokia engineer outlined how the integration marked a "significant milestone," as it showed how commercial 5G equipment can become integrated into military equipment with tougher security and performance requirements. So, the new breakthrough has the potential to open up more defense and government-oriented mobile networks sales, it seems.
