September 26, 2020

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Epicurean computer & technology

Is Nokia (NOK) Stock Outpacing Its Pc and Know-how Peers This Year?

Traders centered on the Computer system and Technological know-how place have likely heard of Nokia (NOK), but is the stock carrying out effectively in comparison to the rest of its sector peers? Let us acquire a closer glance at the stock’s calendar year-to-day performance to uncover out.

Nokia is just one of 604 unique stocks in the Laptop and Know-how sector. Collectively, these corporations sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 various teams and is detailed in get from finest to worst in phrases of the average Zacks Rank of the unique firms in just just about every of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to come across shares with improving upon earnings outlooks. This technique has a lengthy history of accomplishment, and these shares are likely to be on track to conquer the industry around the next one to a few months. NOK is presently sporting a Zacks Rank of #2 (Get).

Within the previous quarter, the Zacks Consensus Estimate for NOK’s total-year earnings has moved 11.02% higher. This exhibits that analyst sentiment has improved and the company’s earnings outlook is much better.

Our latest out there facts displays that NOK has returned about 20.75% since the start of the calendar 12 months. In the meantime, the Computer system and Technologies sector has returned an typical of 15.95% on a 12 months-to-date basis. This implies that Nokia is outperforming the sector as a complete this year.

To crack matters down additional, NOK belongs to the Wireless Tools marketplace, a group that contains 15 specific firms and at this time sits at #112 in the Zacks Industry Rank. On normal, this group has received an common of 18.64% so far this yr, meaning that NOK is undertaking superior in terms of year-to-day returns.

Traders in the Laptop and Technology sector will want to hold a close eye on NOK as it attempts to carry on its good effectiveness.

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Nokia Company (NOK): Cost-free Inventory Examination Report

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Zacks Investment Analysis

The sights and thoughts expressed herein are the sights and opinions of the writer and do not essentially mirror all those of Nasdaq, Inc.