It seems that patriotism holds true in the US as well, and European companies generally don’t see the same kind of rallies as their domestic peers. Sure, “never bet against the USA” might very well be a valid phrase.
Nokia hasn’t posted a strong earnings season, a positive profit warning, or guidance. I assume we’ll see a strong run once Q3 or Q4 delivers something tangible, or if Hotard provides strong guidance for the future. However, the souring of the AI hype could overshadow even tangible results.