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t2, I think NOK is the most solid of the telecom stocks, by a long shot. The stock's chart supports that story--steady, regular advances. It's close to its ATH because it continues to deliver like a Mercedes in competition with a bunch of Pontiacs (MOT and ERICY). However, with a market cap of $265 billion, I am not too interested in owning them since they are too big for aggressive share-price growth. I could see why a lot of people own them, though, as kind of a Rock of Gibraltar. I don't know about their short-term prospects. I'd guess they will continue to perform well. Most of the negative news you hear about QCOM is stuff that has a positive effect for NOK (GSM buildout in China, possible W-CDMA deal in Korea, deals in Japan). However, because NOK is so huge already in terms of sales, the positive effect of any one deal is probably a lot less than the negative effect on QCOM of losing a deal. Hmmm, does GE have the largest market cap these days at 510BB? Less than a double for NOK to take them out. It would be interesting if a non-US co. became the most highly valued industrial co. in the world. |
