Jim Cramer Likes Nokia (NOK) Stock But Says Wait for a Dip — This Could Be It

TLDR

• Nokia stock dropped around 5–6% Friday as investors took profits after a 208% surge over the past 12 months.
• The company announced a €500 million senior unsecured bond due 2032 at a 3.625% coupon, adding pressure.
• Proceeds will refinance an existing €500 million bond maturing in May 2028.
• Despite the drop, NOK still trades well above its key moving averages, with the longer-term trend intact.
• Jim Cramer recently gave Nokia his blessing for a small position but urged patience, citing overbought conditions.

Nokia has been one of the standout performers in the tech space over the past year, surging 208% in 12 months. So it’s no surprise that when the stock hit a speed bump Friday, it wasn’t exactly a shock.

Nokia Oyj, NOK

Nokia (NOK) stock fell roughly 5–6% in premarket trading on Friday, with the stock sitting around $15.74 before the open. The drop came as a mix of profit-taking and a fresh bond announcement weighed on the stock.

The company said it issued €500 million in senior unsecured notes due June 2032, carrying a fixed annual coupon of 3.625%. Nokia applied to list the notes on the regulated market of Euronext Dublin.

The proceeds are earmarked for general corporate purposes, including refinancing its existing €500 million bond with a 3.125% coupon that matures in May 2028. The early redemption will be carried out as a make-whole call under the bond’s terms.

After a run like Nokia’s, the bar for keeping momentum going is high. When a refinancing deal hits the tape, some investors see it as an opportunity to lock in gains — especially in a broader risk-off session.

Nasdaq futures were down about 1.15% Friday, with S&P 500 futures off 0.47%, adding to the headwinds across the tech sector.

Technical Picture Still Points Up

Even after the premarket slide, Nokia’s chart isn’t broken. The stock is still trading 6.3% above its 20-day simple moving average at $14.74, 30.1% above its 50-day at $12.04, and more than 100% above its 200-day at $7.71.

The golden cross from October 2025 — when the 50-day crossed above the 200-day — remains intact and continues to provide a long-term tailwind.

MACD is sitting above its signal line with a positive histogram, pointing to improving momentum despite the short-term choppiness. Key support to watch is the 20-day SMA around $14.74. The next major resistance sits at $17.45, the 52-week high.

What Jim Cramer Said

Cramer noted that Nokia’s network expertise — built around carrying voice and mobile data — now applies to AI traffic, edge computing, and next-generation telecom workloads.

He also flagged that NVIDIA’s Jensen Huang bought Nokia at $6 a share when it was far cheaper. Huang’s involvement was part of Cramer’s reasoning for staying constructive on the name.

That said, Cramer tempered his enthusiasm. He described the stock as getting “overbought” and said investors might get a better entry point by waiting for a pullback.

His recommendation was to take a small position if willing to do the homework, but to avoid going in big at current levels.

Nokia was trading around $15.74 premarket Friday, still up dramatically from where Huang entered the stock.

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