Nokia Oyj (NOK): 10 Most Overvalued Quantum Computing Stocks According to Short Sellers

With a forward P/E of 30.07, Nokia Oyj (NYSE:NOK) is among the 10 Most Overvalued Quantum Computing Stocks According to Short Sellers.

On June 9, Nokia Oyj (NYSE:NOK) and Indosat Ooredoo Hutchison announced a partnership to modernize Indosat’s nationwide mobile network in Indonesia through the deployment of advanced 5G radio access network technologies. Under the agreement, Nokia will support the rollout of low- and mid-band 5G infrastructure designed to deliver enhanced network performance and help create AI-ready connectivity platforms. The partnership further strengthens Nokia’s presence in a growing telecommunications market while highlighting increasing global demand for next-generation network infrastructure capable of supporting artificial intelligence applications and rising data consumption.

On June 8, BofA raised its price target on Nokia Oyj (NYSE:NOK) to EUR 14.40 from EUR 11 and maintained a Buy rating on the shares. Following discussions with Nokia’s investor relations leadership at the firm’s Global Technology Conference, BofA expressed confidence in the company’s positioning in data center interconnect solutions and optical transport technologies. The firm also expects Nokia to benefit from a ramp-up in data center switching revenues, supported by growing demand for high-capacity networking infrastructure required by cloud computing and artificial intelligence workloads.

Founded in 1865 and headquartered in Espoo, Finland, Nokia Oyj (NYSE:NOK) is a global telecommunications and information technology company that builds the critical infrastructure behind 5G, fiber, and cloud networks. It is actively pioneering quantum-safe security, networking, and sensing to protect future communications from quantum computer threats.

READ NEXT: 7 Best Pet Care Stocks to Buy for Consistent Recurring Revenue and 7 Best Longevity and Anti-Aging Stocks to Buy.

Disclosure: None.  Follow Insider Monkey on Google News.