Canaccord Genuity Morning Coffee on Nokia (NOK): No Finnish
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Price: $3.76 --0%
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
10 Buy, 14 Hold, 15 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade NOK Now!
Canaccord Genuity Morning Coffee on Nokia (NYSE: NOK): No Finnish.
Nokia announced two new Nokia Lumia Windows Phone 8 smartphones, the Lumia 920 and 820. While Canaccord Genuity Technology Analyst Michael Walkley came away impressed with many of the new features, he believes the Microsoft ecosystem still faces an uphill battle to win customers and create a viable long-term third mobile ecosystem after Android and Apple’s (Nasdaq: AAPL) iOS. With limited Windows 8 sales in Q4/12 combined with sharply declining Symbian sales and solid but stable feature phone sales, he anticipates large 2H/12 Devices and Services operating losses. Microsoft (Nasdaq: MSFT) management disclosed expectations for final Windows Phone 8 software releases in another 1-2 months. Therefore, Walkley does not anticipate new Lumia smartphone launches until later in Q4/12, after the launch of the LTE iPhone 5 and several LTE Android smartphones. Further, Nokia management indicated the new Lumia’s will launch in limited markets rather than a global launch. As such, Walkley is lowering his below-consensus Q4/12 and 2013 Lumia smartphone estimates, his 2012 EPS estimate from $(0.38-0.39) and his 2013 estimate from $(0.09-0.12).
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Nokia announced two new Nokia Lumia Windows Phone 8 smartphones, the Lumia 920 and 820. While Canaccord Genuity Technology Analyst Michael Walkley came away impressed with many of the new features, he believes the Microsoft ecosystem still faces an uphill battle to win customers and create a viable long-term third mobile ecosystem after Android and Apple’s (Nasdaq: AAPL) iOS. With limited Windows 8 sales in Q4/12 combined with sharply declining Symbian sales and solid but stable feature phone sales, he anticipates large 2H/12 Devices and Services operating losses. Microsoft (Nasdaq: MSFT) management disclosed expectations for final Windows Phone 8 software releases in another 1-2 months. Therefore, Walkley does not anticipate new Lumia smartphone launches until later in Q4/12, after the launch of the LTE iPhone 5 and several LTE Android smartphones. Further, Nokia management indicated the new Lumia’s will launch in limited markets rather than a global launch. As such, Walkley is lowering his below-consensus Q4/12 and 2013 Lumia smartphone estimates, his 2012 EPS estimate from $(0.38-0.39) and his 2013 estimate from $(0.09-0.12).
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