Sold Nokia (NOK) at 13.08
Posted by HanaDaddy | Posted in My thoughts on the market | Posted on 21/07/2009
Tags: Nokia
1
I have been holding NOK for a long time bought at 16 and sold it yesterday .
Suddenly the price dropped and kept dropping for the last few days against the market’s Upward trend.
I totally agree with that the general public sentiment on the portable device has been moved to more sophisticated devices such as iPhone. Nokia is slowly dying.
Jul 21, 2009 (M2 PRESSWIRE via COMTEX) — MS | Quote | Chart | News | PowerRating — 21 July 2009 – Morgan Stanley downgraded the recommendation on Finnish handset maker Nokia Oyj (HEL:NOK1V) to “underweight” from “overweight” and slashed the share price target to EUR8.20 from EUR13.50.
The broker considers that competition will put Nokia’s margins under pressure and that the transformation into a service-oriented company had a bad start and will take time.
On Monday, shares in Nokia closed at EUR9.27, down 0.96% on the day, on the OMX Nordic Exchange in Helsinki.
Here is another interesting post – chart on Previous Cellphones IPhone 3G buyers.
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