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.

Andrew Tonner owns shares of Apple. The Motley Fool recommends Apple and Google and owns shares of Apple, Google, and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.