Nokia's Q2 profit outlook meets expectations, sales to decreaseJun 11, 2002 (NORDIC BUSINESS REPORT) -- The Finnish telecommsequipment maker Nokia Corporation announced today (11 June) an outlook of thecompany's second-quarter financial performance.The total net sales were expected to decrease by 2-6% from the second quarter oflast year.Mobile phone sales were expected to increase by 0-4% as compared to thepreviously estimated 5-10% growth.The infrastructure sales of Nokia Networks were to decrease more than expected -by 20-25% instead of 5-10% - compared to the corresponding period a yearearlier.Nokia's market share in mobile phones was to increase to approximately 38%during the quarter.Earnings per share (pro forma) were estimated to total between EUR0.18 andEUR0.20, compared to EUR0.17 a year ago.
This miss was predicted last week. Old news. Already priced in. No need to panic. Good time to buy.
Maybe you are right - it could go to $8, butconsider the stock is already down more than50% from just a few months ago and down more than 75% from last year.Is the news really so bad it deserves to go down another 25%?