Ericsson's Warning Suggests Soft Demand for Nokia (NOK), But Material Miss Unlikely - Wells Fargo
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Um said with Nokia set its earnings date for October 27 they believe a material miss may be unlikely, which could be explained by potential share gains and/or better relative trends in China vs the beginning of the year.
They forecast Nokia’s Mobile Networks revenue will decline 12% y/y in Q3 and decline 7% y/y in Q4.
They also believe the broader pressures in the end markets will continue to limit material upside potential to NOK and think restructuring/synergy details will be important.
The maintain a Market Perform rating on NOK.
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