In today's edition of "Talking Stocks," analyst Austin Smith cautions against chasing one unusually high dividend stock: Nokia. The company recently crossed the 10% yield barrier and may be tempting for the income-seeking investor. But chasing this monster yield is a portfolio kiss of death. Nokia recently announced huge job cuts and plans to sell some of its best assets -- patents. Don't be fooled by the news. This isn't a strategic shift to put more money in its hands and create a leaner organization going forward; it's pure survival. This is one big dividend you want to stay away from.
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Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple and Microsoft. Motley Fool newsletter services recommend Apple, Microsoft, and Nokia. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.