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
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