For Immediate Release
Chicago, IL – November 28, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Nokia Corporation (NOK - Analyst Report), Apple Inc. (AAPL - Analyst Report), Google Inc. (GOOG), Amazon Inc. (AMZN - Analyst Report) and Microsoft Corporation (MSFT - Analyst Report).
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Here are highlights from Tuesday’s Analyst Blog:
Demand Soars for Lumia 920
It seems that Nokia Corporation’s (NOK - Analyst Report) Lumia 920 has given it a fighting chance against Apple Inc.’s (AAPL - Analyst Report) iPhone and Google Inc. (GOOG) developed Android-based phones. Nokia has seen strong demand for Lumia 920 since the device became available earlier this month, mainly attributable to the ongoing holiday season in U.S.
According to Forbes, Lumia 920 was out of stock at online retailer Amazon Inc. (AMZN - Analyst Report) and will take at least two weeks to reach consumers. Nokia’s partners for its flagship device have only the white model left on their shelves.
Nokia is doing well in other parts of the world, particularly in Germany and Australia, where the company has experienced sell outs of the Lumia 920. The struggling handset manufacturer has reportedly received 2.5 million orders for Lumia 920, which is close to the 2.9 million Lumia series phones that it sold in the entire 3Q.
However, Forbes suggests that though the data remain impressive, the out-of-stock situation in the stores could be due to low inventory position or as a result of the uptick in demand from the holiday shopping rush.
Lumia 920 is the latest gamble from the Finnish handset manufacturer which runs on Microsoft Corporation’s (MSFT - Analyst Report) Windows Phone8 software. Lumia handsets are powered with rich features (PureView camera, 4GLTE technology, Windows 8 OS, and numerous apps), giving Nokia chances to regain its lost glory.
One of the primary reasons for the recent surge in demand for Lumia 920 is the lackluster product mix of iPhone 5 as compared to its earlier handsets. Nokia’s mapping technology gives it an edge over Apple whose faulty map service has been subject to heavy criticism. Additionally, the company has strategically priced the device at $99.99 which is $100 less than iPhone5 and $200 less than Samsung’s flagship SIII.
We remain optimistic that the company has at last found a winner in the form of Lumia 920, which has at least given a ray of hope to gain some market traction. Nevertheless, the company should not rest on its laurels after this success and should continue efforts to revamp its falling handset business.
We retain our long-term Neutral recommendation on Nokia Corp. However, it holds a Zacks #2 Rank, implying a short-term Buy rating.
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