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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
