Nokia Corp. (Nokia (NOK)) shares are climbing again. The stock is up 2.82% in Friday's premarket session, trading at $14.58, as risk appetite stays constructive and traders lean into the stock's longer-term uptrend. Nasdaq futures are up 0.11%, while S&P 500 futures have gained 0.20%, providing a supportive backdrop for higher-beta names like Nokia.

AI Networking Innovation Lab Launch

On Thursday, Nokia launched its AI Networking Innovation Lab, a new facility aimed at accelerating co-innovation with AI and cloud partners. The lab will focus on developing advanced networking technologies, architectures, and ecosystems for AI infrastructure, helping shape the future of data center networking. It's a clear signal that Nokia is positioning itself to capture a slice of the booming AI infrastructure market.

Progress on Broadband Device Deployments

Earlier this week, Nokia disclosed progress on the regulatory front that could keep U.S. broadband device deployments moving without disruption. The company has secured FCC approval for its in-home broadband devices, a step that supports "uninterrupted deployments across the U.S." By clearing this key regulatory requirement, Nokia expects to keep customer rollouts on track.

What Is Driving Nokia Stock Higher Today?

With the stock sitting near its 52-week high zone, incremental buying pressure in premarket can matter more than usual because it puts breakout levels back in play. Traders are also reacting to a chart that remains firmly bullish on longer timeframes, even as some momentum gauges suggest the latest leg higher is cooling. The Dow Jones ETF (DIA) is up 0.38% in premarket, while the Nasdaq 100 ETF (QQQ) is up 0.11%, keeping the tape supportive. In that backdrop, Nokia's move reads like continuation interest rather than a reversal attempt.

Nokia Earnings Preview: What Analysts Expect

Looking further out, the next major catalyst for the stock arrives with the estimated July 23, 2026 earnings report. Here's what analysts are expecting:

• EPS Estimate: 7 cents (up from 4 cents year-over-year)
• Revenue Estimate: $5.62 billion (up from $5.15 billion year-over-year)
• Valuation: P/E of 87.3x, indicating a premium valuation relative to peers

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $10.33. Recent analyst moves include:

• Argus Research: Upgraded to Buy with a $15.00 forecast (April 27)
• Morgan Stanley: Initiated with Overweight and an $8.00 forecast (February 9)
• JP Morgan: Overweight, raised forecast to $8.00 (December 1, 2025)

Nokia's Weight in Key ETFs: What Investors Should Know

Nokia carries significant weight in several thematic ETFs, meaning any inflows or outflows for these funds could force automatic buying or selling of the stock. Here are the key ETFs:

• Defiance Quantum ETF (QTUM): 1.72% weight
• Defiance Connective Technologies ETF (UFOX): 2.89% weight
• First Trust Indxx NextG ETF (NXTG): 1.60% weight

Significance: Because Nokia carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

Nokia Stock Price Movement in Premarket Trading

NOK Stock Price Activity: Nokia shares were up 2.82% at $14.58 during premarket trading on Friday, according to market data.

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