Analysts change Nokia’s stock to sell
Windows Phone fans will say not to worry that the Nokia Lumia 900 has done very well, and even though it had a few bugs, has exceeded supply with consumer demand. Not sure if any of that demand was due in part of consumers returning the devices because of screen discoloration issues. Plus Nokia sending $100 dollar checks to those with original launched devices with reception issues.
Even with the success the Lumia 900 has had, the Nokia stock took another hit today after “Scoiete Generale analyst Andy Perkins cut his rating on the stock to Sell from Hold.” Currently trading at $3.06, down $0.14 of 4.4%, this now takes the Nokia value down 90% in less than 5 years. Andy Perkins expects Nokia sales volumes to be down 30% in 2013. Perkin’s writes that:
"…the company’s handset business could be on a similar trajectory to that of Motorola Mobility, and that operating losses and restructuring costs threaten to wipe out most of the company’s cash,” and could “bring into question Nokia’s very survival.”
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Analyst fails to mention zero chance of Nokia wiping out their cash as they get another billion dollar check from Microsoft this year. If the 900 has stirred up so muh demand and interest it would be reasonable to assume the next high end device would benefit from the buzz and being available on at least 3 of the 4 big carriers.
@murani
+1