Nokia Corp is trading 4.1% down at $15.94 as investor focus shifts from the recent AI-driven rally to underlying weakness in the company's legacy businesses.
- The drop comes as investors reassess a 13% revenue decline in Nokia's Fixed Networks division, a concern that is overshadowing recent positive earnings and AI-related news.
- Despite a more than 150% year-to-date surge, the stock is facing profit-taking as the market questions the sustainability of its growth amid the slowdown in its traditional operations.
- The sell-off is also part of a broader tech pullback following a disappointing AI outlook from chipmaker Broadcom.