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Nokia (NOK) Extends Google Cloud Tie-Up for Faster Apps

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Nokia Corporation (NOK - Free Report) recently extended its collaboration with Google Cloud Platform to help software developers accelerate the development of 5G solutions worldwide. The collaboration is likely to help the developer community create state-of-the-art enterprise and consumer 5G applications by tapping Google Coud’s resources.

Leveraging its Network as a Code platform on Google Cloud, Nokia aims to unite telco networks, systems integrators, and software developers from around the world into a unified ecosystem. The platform equips developers with essential technical tools such as software development kits (SDKs), network API documentation, and a simulation and testing “sandbox” in order to create software code and code “snippets” for building applications for its customers.

Nokia is also likely to enrich developer experience through the integration of Google Cloud’s Vertex AI and Gemini 1.5 Pro model. These multimodal models are capable of understanding virtually any input and generate almost any output by combining different types of information using text, images, video or code.  

The collaboration will facilitate Google Cloud’s global developer community across all major industries and geographies to harness the power of the 5G network and coding assistance agents for faster software development.

Such collaborations should help Nokia augment its networking footprint to meet the growing global connectivity demands across diverse industries.

Shares of Nokia have lost 12.2% over the past year against the industry’s growth of 53.0%.

Zacks Investment Research
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Zacks Rank and Key Picks

Nokia currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry have been discussed below.

NVIDIA Corporation (NVDA - Free Report) , sporting a Zacks Rank of 1 (Strong Buy) at present, delivered a trailing four-quarter average earnings surprise of 18.43%. In the last reported quarter, it delivered an earnings surprise of 11.48%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NVIDIA has continuously been on the frontline of innovation, as reflected by its contribution to Graphics Processing Units, which undoubtedly sparked the PC gaming market. Over the years, the company’s focus has evolved from PC graphics to AI-based solutions that now support high-performance computing, gaming and virtual reality platforms.

Arista Networks, Inc. (ANET - Free Report) , presently sporting a Zacks Rank of #1, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers.

Arista delivered a trailing four-quarter average earnings surprise of 15.39%. It has a long-term growth expectation of 15.68%.

Motorola Solutions (MSI - Free Report) provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure services. Currently, Motorola holds a Zacks Rank #2 (Buy).

It delivered a trailing four-quarter average earnings surprise of 7.54% and has a long-term growth expectation of 9.47%. In the last reported quarter, Motorola delivered an earnings surprise of 11.51%.

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