Nokia (NOKIA): AI Framework Boosts Stock, But Overvalued?

Nokia has introduced a new agentic AI framework for its Network Services Platform. This aims to support more autonomous IP network operations, drawing investor attention to the company's focus on artificial intelligence. The stock is currently trading at €12.965. It has seen a one-day share price return of just over 10% and a 90-day return of nearly 80%. Over the past year, the total shareholder return is 196.52%. However, despite these strong returns and the AI focus, the stock is considered overvalued. Its last close of €12.97 is significantly higher than a narrative fair value of €6.21. This suggests the market may already be pricing in future growth. This matters because investors need to consider if the AI story still offers room for upside, or if the current valuation is already stretched.