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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: CFA who wrote (26502)	5/18/2004 8:07:10 AM
From: John Hayman	Read Replies (1) \| Respond to of 34857

Hello......anyone here? Did you buy? John Nokia shares fall to five-year low Bloomberg News Shares of Nokia Oyj, the world's largest mobile-phone maker, fell to their lowest point in more than five years as competitors gained market share with more popular models. The shares fell 11 cents to $13.08 on the New York Stock Exchange. As Motorola and Samsung Electronics models with cameras and color screens gain in popularity, Nokia said last month that revenue may drop for a fourth straight quarter. Revenue at Nokia, based in Espoo, Finland, fell in 2002 and 2003 as Western markets became saturated, phone prices slipped and the dollar slumped against the euro. Shares of Nokia have declined 20.5 percent this year. Shares of Motorola, the second-biggest handset maker, have gained 34 percent. No. 3 Samsung's shares have climbed 1.6 percent. Nokia's decline this year means that Samsung has overtaken the Finnish company as the world's largest technology company outside the United States, based on market value.

To: CFA who wrote (26502)	7/25/2004 11:21:01 PM
From: CFA	Read Replies (1) \| Respond to of 34857

Purchased additional shares late last week. To reiterate: 3% dividend, 5+ year low, net cash of $13.5 Billion. People are yapping about MSFT and all of its cash. But NOK has to rank in the top 10 of cash rich companies. If there was a stock screen that allowed you to look for companies with >= $1 Billion Market Cap and where Net Cash is >= 10% of Market Cap, it would be interesting to see how many companies pop up. Cash currently makes up 25% of NOK's market cap. I "upgrade" my phone every year or so. Unless the expected life of mobile phones increases, it seems to me that NOK will be back on track within 6 months, once newer, more "attractive" phones hit the market. Given that NOK's problems seem so easily fixable, it makes me wonder whether other, less publicized problems are lurking. At these prices, however, NOK is already discounting lots of problems. Still looking for $20 within 18 months.