Nokia (NOK) is a networking firm that few investors will pay any attention to. Trading volume continued to increase throughout September. The firm announced an expansion for its AI-RAN trials.
Nokia is expanding its AI radio access network with telecom operators, that includes Europe, Asia-Pacific, and the Middle East. The stock might break out of its $10 trading range if it reports improvements for its AI-RAN platform. It already demonstrated improvements of over 20% in its spectral efficiency.
SK Hynix (SKHY) closed at $174.87, down from a mid-month high of $199.87. The firm is potentially working with Intel (INTC) to produce memory at Intel’s Ohio plant. The AI industry is in desperate need of more memory supply. A supply contract with Intel would enable SK Hynix to produce HBM, or high-bandwidth memory.
In the health plan sector, watch for CVS Health (CVS) and Cigna (CI) to break out of a narrow trading range. CVS stock is especially attractive. Shares failed to break above a descending moving average. CVS stock peaked at $110.68 in July but spent the last two months trading at around $95. It closed at $91.72.
In the telecom sector, shares of AT&T (T), Verizon Communications (VZ), and Comcast (CMCSA) fell by 2.8% or more. Investors sold off companies that have high debt on their balance sheet. Companies potentially underperform when the central bank raises interest rates.
On Wednesday, the Federal Reserve raised interest rates by 25 bps for the first time since 2023.
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