5 Best Global Stocks To Buy Now

In this article, we discuss the 5 best global stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Global Stocks To Buy Now.

5. Nokia Corporation (NYSE:NOK)

Number of Hedge Fund Holders: 22

Recently, 5G solutions provider Nokia Corporation (NYSE:NOK) signed a five-year agreement with Elisa Estonia, a Finnish telecom company, for a national 5G RAN rollout and the replacement of the existing 4G infrastructure. Nokia Corporation’s (NYSE:NOK) 5G project is scheduled to begin in early 2022, following the completion of Estonia’s spectrum auction.

Before the company became one of the world’s leading 5G providers, Nokia Corporation (NYSE:NOK) was widely known as a mobile phone manufacturer. The Finnish tech company still produces phones along with laptops, smart TVs, streaming devices, and smart lighting. 

The company recently reported third-quarter earnings of EUR 5.39 billion, up 2% from EUR 5.29 billion a year ago. Furthermore, Nokia Corporation (NYSE:NOK) saw a 6% year-over-year increase in revenue in its network infrastructure segment and a 12% year-over-year increase in sales in its cloud and network services.

Morgan Stanley analyst Dominik Olszewski initiated an Overweight rating on Nokia Corporation (NYSE:NOK) shares and set a price target of $7.50 on December 20. Olszewski mentioned that Nokia Corporation (NYSE:NOK) is working to address its product cost-competitiveness issues. 

Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Nokia Corporation (NYSE:NOK) with 22.6 million shares worth more than $123 million. Overall, 22 hedge funds in the database of Insider Monkey held stakes worth $388 million in Nokia Corporation (NYSE:NOK) at the end of Q3 2021, compared to 26 in the previous quarter worth $494 million.