Investors who gave up on Nokia (NOK), BlackBerry (BB), Ericsson (ERIC), or Cisco Systems (CSCO) missed out on their rally. Nokia gained over 60% from its 52-week low. Last week, it added 9.7% in reaction to its quarterly report.
Stock markets treated Nokia like an AI and cloud services supplier. In the third quarter, the network infrastructure segment delivered 11% in net sales growth. Optical Networks grew by 19%, thanks to AI and Cloud customers, according to CEO Justin Hotard.
Network forecasts that its venture fund investments will add EUR 0.1 billion to its operating profit. Its full-year profit forecast is EUR 1.7 billion to 2.2 billion.
IBM (IBM) slipped toward its 50-day moving average at below $270 last week. However, the stock jumped by 9.31% on Oct. 24, closing at $307.46, a new 52-week high. In Q3, IBM posted a 7% revenue growth rate. CEO Arvind Krishna said that clients turned to it as a trusted partner to help them build embedded AI and infrastructure.
On October 24, IBM said that its quantum computing algorithm works on chips that Advanced Micro Devices (AMD) made. AMD stock soared by 7.63% that day, up 7.88%.
AMD benefited from CEO Lisa Su, who previously worked at IBM. Su was involved with teams that developed copper interconnect, the PlayStation 3 CPU, and other projects.
