In the following video, Andrew Tonner discusses Nokia, one of the best-performing tech stocks in recent memory, up more than 15% in the past three months as part of a larger rally that has seen the stock rise nearly 125% since last July.
Andrew says Nokia has put behind investors' concerns that it wouldn't be able to break into mobile in a big way and that the company would go out of business. Nevertheless, despite a partnership with Microsoft that drove demand for the Lumia handset, Nokia isn't out of the woods yet.
Shipping 4 million phones to Apple's 47 million, Nokia is still a bit player in the mobile-phone market. Andrew claims that Nokia, at 140 times forward earnings, has great expectations reflected in its price, even as it remains unprofitable within a cutthroat industry. But he finds it too rich for his blood and foresees difficulty as the company tries to compete with Apple and Google, calling the stock a mixed bag and ultimately putting a hold rating on it.
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