What's Going On With Nokia Stock Friday?

Nokia Corp. (NYSE:NOK) stock gained in Friday premarket trading after NVIDIA Corp. (NASDAQ:NVDA) CEO Jensen Huang highlighted the companies’ partnership and the role artificial intelligence could play in next-generation telecom networks.

Nokia shares also saw a small increase in trading volume Thursday after Huang mentioned the company at the Goldman Sachs Communacopia + Technology Conference, according to Benzinga Pro.

Huang Calls 6G ‘Physical AI’

Huang said physical AI could eventually extend beyond autonomous vehicles and robotics into telecommunications infrastructure.

"6G is basically physical AI," Huang said, noting that wireless networks use radio waves to sense and interact with the physical world.

He pointed to NVIDIA’s partnership with Nokia and their work on AI-RAN. The platform combines NVIDIA’s CUDA and AI technology with telecommunications infrastructure.

Huang said AI-RAN could effectively transform telecom networks into a "distributed edge data center." He predicted the technology would be "phenomenally successful."

The comments put renewed attention on Nokia’s role in NVIDIA’s broader effort to extend AI computing beyond traditional data centers and into telecom infrastructure.

Nokia Technical Analysis

Nokia is trading 4.8% above its 20-day simple moving average of $10.31. It is also 4.1% above its 50-day SMA of $10.38. That keeps the near-term trend positive.

However, shares remain 10.1% below the 100-day SMA of $12.03. As a result, the $12 area remains a key resistance zone.

The relative strength index stands at 54.22. That signals neutral momentum and leaves room for further gains before the stock reaches overbought territory.

Nokia’s 20-day SMA remains below its 50-day average, signaling some short-term weakness. However, the 50-day SMA remains above the 200-day SMA of $9.67, supporting the longer-term bullish trend.

The $10 level is a key support area. A break below that level would put the 200-day SMA in focus.

Nokia Analyst Outlook

Analysts have a Buy consensus rating and an average price forecast of $18.

JPMorgan rates Nokia Overweight with a $21 price forecast. Argus Research upgraded the stock to Buy with a $15 forecast in April. Morgan Stanley initiated coverage at Overweight with an $8 forecast in February.

NOK Price Action: Nokia shares were trading up 1.79% at $10.81 during premarket trading on Friday, according to Benzinga Pro data.

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