On June 4, Nokia fell 3.65% in after-hours trading, trading at $16.13/share, with trading volume of $31.74 million.

On the news front, Nokia had previously surged nearly 18% from its May 29 low of $14.78 to an intraday high of $17.435 on June 3, driven by multiple catalysts including NVIDIA's approximately $1 billion strategic acquisition of roughly 3% equity stake, the NVIDIA GTC Taipei conference, and strong Q1 earnings. The rapid accumulation of short-term gains triggered notable profit-taking pressure.

On fundamentals, Nokia reported Q1 adjusted operating profit up 54% year-over-year, with AI and cloud segment revenue surging 49%. Morgan Stanley previously raised its target price from EUR 11 to EUR 14 with an Overweight rating, citing Nokia's unique positioning in the data center spending wave driven by AI and cloud expansion. However, the broader communication equipment sector faced headwinds on June 4, with peers including Applied Optoelectronics down 2.98%, Arista Networks down 3.48%, Lumentum down 2.03%, and Ciena down 1.03%, further weighing on sentiment.

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