When the global handset market goes South a number of companies get bombed. The worst goes to the handset companies themselves. That is not good news for Motorola (NYSE: MOT). Chip companies also get a beating. Due to that, investors have turned on Qualcomm (NASDAQ: QCOM) and Texas Instruments (NYSE: TXN)
The news out of Nokia (NYSE: NOK) is that the markets are too worried about the industry. Things are just fine. According to Reuters "the company’s finance chief said the mobile phone maker still expects 10 percent industry growth this year despite mixed European demand and a U.S. slowdown."
Nokia has about 40% of the global handset market. It should know the industry trends better than any other firm. The company sees tremendous demand in China, Russia, and other emerging markets.
The news says that some of the stocks which have been pushed down on expectations of a bad year for handsets may be down too far.
Douglas A McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
