Nokia has the healthiest balance sheet ($2.9 billion in net cash) and profit margins (13.0% net) in the industry. Meanwhile, competitors are struggling to turn a profit while Nokia continues to gobble up market share (31.7% in handsets). Just read Nokia's latest quarterly report (a pdf file) to get a sense of the breadth of expanding possibilities in wireless equipment, handsets, and mobile commerce. Nokia has its hand in all of these. From a current market cap of $161 billion, we think Nokia has a good shot at continuing to grow sales and profits in the 25-35% range over the next five years, and thereby double its stock price (i.e., 2x/5y).

ACTION  #  STOCK     PRICE   COMS'N   CASH PAID
Bought  15   NOK    $33.14        0     $497.10