Nokia Oyj's stock plummeted 5.47% during intraday trading on Thursday, extending recent losses for the communication equipment maker.

The sharp decline is attributed to investor caution ahead of the company's upcoming second-quarter and half-year 2026 financial report, scheduled for publication on July 23. This wait-and-see sentiment is compounded by broad selling pressure across the communication equipment sector, with peers also showing significant weakness. Additionally, Nordea Bank's recent reduction of its target price for Nokia and a large-scale transfer of over 43.55 million treasury shares by the company have further weighed on market sentiment.

While Nokia's joint launch of a commercial AI-RAN platform with NVIDIA is viewed as a medium-to-long-term positive catalyst, short-term profit-taking and persistent sector softness are currently dominating the price action.