Is it time to buy Nokia stock as it launches AirScale 5G portfolio?

on Jun 24, 2021
  • Nokia has launched its next-generation AirScale 5G portfolio powered by ReefShark technology.
  • It gives the company a solid platform to build its 5G networks, setting it up for future growth.
  • NOK shares are up 32% this year. So, is it time to buy the stock?

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On Thursday, Nokia Corp (LON:0HAF) launched its next-generation AirScale 5G portfolio that will drive its next growth phase. The company wants to corner the 5G market in the EU region. Today’s announcement is a major step in the right direction. NOK shares gained 1.68% following the announcement for a year-to-date return of more than 32%.

What’s the AirScale 5G portfolio

Nokia’s new portfolio includes baseband, radio, and massive MIMO antennas that will enable the company to offer a high 5G capacity and enormous coverage. Its single RAN will accelerate 5G rollouts and cut overall costs associated with RAN ownership.

These products will give Nokia a solid platform to build its 5G business. Shares trade at an attractive forward P/E ratio of 16.56. Now could be the time to buy.

Source – TradingView

Technical overview: NOK pullback could continue

Technically, Nokia share price seems poised to continue falling in the short term. The current pullback appears to have momentum.

Investors looking to ride the pullback can target profits at approximately $4.62. Those looking for a potential rebound can target profits at $5.69.

Bottom line: Best to wait for the next rebound

In summary, NOK pullback seems poised to continue for the subsequent trading sessions. Therefore, it is best to wait before opening a bullish position.