Will Strong Emphasis on Innovation Propel NOK's Stock Price?

Nokia Corporation NOK recently unveiled a cutting-edge digital platform, Broadband Easy, which streamlines the process of broadband rollout for operators. Nokia boasts deep expertise in fiber network design and deployment. The company is combining its expertise with automation and AI to make the process of fiber installation easier, faster and cost-effective.Vast regions across the world still lack access to robust broadband infrastructure. For instance, 74 million people across Europe still don’t have access to FTTH (Fiber-to-the-Home). Sparsely populated areas and remote locations are often overlooked by service providers, owing to economic unviability and complexity in installing and operating infrastructure in geographically challenging terrain. Apart from these, subcontractor management and fiber network certification are also major challenges operators have to face during FTTH deployments.The Broadband Easy from Nokia aims to address these issues. It offers a modular platform that seamlessly integrates with operators existing IT systems and effectively digitalizes the process. The integrated AI models ensure verification of installed components, offer guidance and training to technicians and improve the quality of field installations. The solution comes with pre-integrated Nokia technologies, such as Nokia Altiplano Access Controller, Nokia Design Center and roll-out management services, which drive efficiency in the roll-out process. Lower total cost of ownership and automation of processes will make it easier for operators to expand into remote areas.NOK Driving Advancement in Quantum-Safe NetworksNokia joined forces with Honeywell Aerospace Technologies and Numana to advance innovation in quantum-safe communications. Quantum computing can easily break the legacy encryption. Hence, the development of advanced security technologies to protect digital infrastructure in the future is a vital task. By combining the complementary capabilities, which include Nokia’s advanced cryptographic network technologies, Honeywell’s quantum key distribution and Numana’s Kirq quantum communication testbed, the strategic partnership aims to deliver quantum security solutions to safeguard digital infrastructure.Will These Developments Drive NOK’s Share Performance?Nokia is focused on its strategy, which hinges on four priorities. The first priority is to lead in high-performance end-to-end networks with its communications service provider customers. The second one is based on its relentless pursuit to expand network sales to select vertical markets, specifically energy, transportation, public sector, technical extra-large enterprises and webscale players such as Google and Amazon. Building a strong standalone software business is the third priority. The fourth pillar aims to create new business and licensing opportunities in the consumer ecosystem.The recent development suggests Nokia is steadily advancing its business operations based on its core priorities. Govt and private entities are increasing their cooperation across the globe to reduce the digital divide and bolster network infrastructure. This factor is accelerating the pace of fiber rollout. Nokia, with its robust portfolio of fixed networks and innovative product launches, is well-positioned to capitalize on this trend.Several enterprises across the world are actively exploring the capabilities of quantum computing technologies. Such innovation initiatives can open up a vast array of applications across the sector. In a global quantum computing era, advanced quantum security applications will be a major demand from enterprises and service providers. Recognizing the future potential in that market, Nokia is contributing to developing security solutions for digital infrastructure in the quantum computing era. This will likely bring long-term benefits.NOK’s Stock Price MovementShares of Nokia have gained 52% in the past year compared with the industry’s growth of 47.4%.Image Source: Zacks Investment ResearchNOK’s Zacks Rank and Key PicksNokia currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader industry have been discussed below.InterDigital IDCC sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.In the trailing four quarters, it delivered an earnings surprise of 158.41%. It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops a wide range of advanced technology solutions used in digital cellular, wireless 3G, 4G and IEEE 802-related products and networks.Celestica Inc. CLS sports a Zacks Rank #1 at present. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading original equipment manufacturers.United States Cellular Corporation USM sports a Zacks Rank of 1 at present. In the last reported quarter, it delivered an earnings surprise of 150%.U.S. Cellular has taken concrete steps to accelerate subscriber additions and improve churn management. The company aims to offer the best wireless experience to customers by providing superior quality network and national coverage. It is well-positioned to support the investment required for network enhancements, including the deployment of 5G technology.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Cellular Corporation (USM): Free Stock Analysis Report Nokia Corporation (NOK): Free Stock Analysis Report Celestica, Inc. (CLS): Free Stock Analysis Report InterDigital, Inc. (IDCC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks