What's Going On With Nokia Stock Tuesday?

Nokia Corporation (NYSE:NOK) stock is trading higher by about 6% Tuesday as investors lean into the stock’s recent momentum and its exposure to growing AI infrastructure demand.The broader market is also higher. The Nasdaq has gained 0.63%, while the S&P 500 is up 0.70%. The technology sector has added 0.74%.Nokia’s gain comes during a broadly positive session. Nine of 11 S&P 500 sectors are higher, while the advance-decline ratio stands at 4.5.AI Infrastructure Demand Supports NokiaInvestor interest in Nokia has also strengthened as the AI infrastructure buildout drives demand for faster, higher-capacity networks.Nokia’s optical and IP networking businesses could benefit as data centers and cloud providers require more bandwidth to connect AI servers and move growing volumes of data.The company is also exposed to broader telecom infrastructure spending. Investors are increasingly assessing how network equipment providers could benefit from higher spending on data centers, cloud computing and next-generation telecom networks.Nokia Extends Strong Stock MomentumThe stock is also extending a strong 12-month run. That longer-term momentum has helped keep buyers engaged during recent pullbacks.At $10.80, Nokia is trading 3.4% above its 20-day simple moving average of $10.46. It is also 6.9% above its 50-day SMA of $10.12. However, the stock remains 7.6% below its 100-day SMA of $11.71. That level could create resistance if the rally continues.Momentum is improving. The MACD is above its signal line, while the histogram is positive. That suggests selling pressure has eased. Nokia also formed a golden cross in October 2025, when its 50-day SMA moved above its 200-day SMA. That continues to support the longer-term bullish trend despite recent volatility.Key resistance sits near $11. A breakout above that level could strengthen the bullish setup. Support is near $9.50, where buyers have previously stepped in. See More: Top Value Stocks Earnings And Analyst OutlookNokia is scheduled to report earnings on Oct. 22.Analysts expect earnings of 8 cents per share, up from 7 cents a year earlier. Revenue is expected at $5.80 billion, compared with $5.64 billion a year ago.The stock carries a Buy consensus rating with an average price forecast of $16.50.Recent analyst actions include B. Riley Securities initiating coverage with a Buy rating and $15 price forecast on Sept. 17. Rosenblatt also initiated coverage with a Buy rating and $15 price forecast on Sept. 15. JPMorgan maintained an Overweight rating in June and raised its price forecast to $21.Benzinga Edge RankingsThe Benzinga Edge scorecard highlights Nokia’s strong momentum relative to the broader market. Momentum: Bullish at 91.2 Quality: Neutral at 45.19 Value: Neutral at 47.31 Growth: Neutral at 47.44 The readings point to a momentum-driven setup. Price strength remains the stock’s biggest advantage, while growth, value and quality scores remain closer to neutral.Top ETF ExposureSpear Alpha ETF (NASDAQ:SPRX) has a 4.15% weighting in Nokia.That exposure means fund inflows or outflows can contribute to buying or selling pressure in Nokia shares.Price ActionNokia shares were up 5.93% at $10.80 at the time of publication Tuesday, according to Benzinga Pro data.Image via Shutterstock Read Also: AMD’s Monster 2026 Rally Gets Fresh Fuel From Lisa Su’s 2027 AI Supply Push