BB, NOK Stocks Double This Year — What’s Driving BlackBerry, Nokia’s Surprise Comeback Trade?

• Nokia shares closed Friday at a more than 15-year high, driven by its shift from traditional telecom equipment to AI networking and data-center infrastructure.

• Last week, the FCC approved Nokia’s Beacons and ONT devices, allowing continued broadband deployments in North America.

• BlackBerry shares posted their biggest one-day gain in 17 months on Friday as investors backed the company’s shift into cybersecurity and automotive software.

Once viewed as fading smartphone-era brands, Nokia (NOK) and BlackBerry (BB) have become two of 2026’s strongest-performing technology stocks as investors reposition around artificial intelligence infrastructure and autonomous systems.

Nokia shares have jumped about 139% this year, while BlackBerry stock is up about 108%, as investors pour money into companies that support AI networks, cybersecurity, and connected technologies.

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Chart comparing SPX, BB, NOK returns YTD

AI Infrastructure Drives NOK’s Revival

Nokia stock ended Friday’s trading session, hitting over a 15-year high of $15.7.

Nokia’s resurgence stems largely from its expansion into AI-focused networking hardware, moving from its traditional telecom hardware. The rally picked up pace after Nokia posted strong fiscal first-quarter (Q1) results last month, including a sharp 49% increase in AI and cloud-related revenue.

For years, investors saw Nokia as a slow-growing 5G equipment company. That view changed in 2026 as Nokia expanded into optical networking and AI data-center technology.

The company launched an AI Networking Innovation Lab in California last week, alongside partners such as Advanced Micro Devices (AMD) and Super Micro Computer (SMCI).

The project aims to ease data traffic problems in advanced AI data centers. Nokia also strengthened its high-speed data networking business through its acquisition of optical technology company Infinera.

Last week, Nokia said its Beacons and ONT devices received conditional approval from the FCC, allowing telecom operators in North America to keep deploying the broadband equipment without interruptions.

The approval exempts Nokia’s current and future router products from restrictions tied to the FCC’s Covered List, which flags equipment considered potential national security risks.

On Friday, Nokia also got a Wall Street credibility boost after Morgan Stanley raised its U.S.-listed ADR to $16.50 from $13 , with an ‘overweight rating’, as per Investing.com.

BB Expands Beyond Mobile Legacy

BlackBerry stock on Friday scaled its best day in seventeen months, as investors continued to cheer the company’s transformation into a cybersecurity and automotive software provider.

BlackBerry, once known for its keyboard smartphones, has spent years shifting its business toward embedded software, and connected vehicle technology. The company now earns much of its revenue from cybersecurity and Internet-of-Things businesses.

Its QNX operating system has become widely used across the automotive industry, supporting digital cockpit functions, safety systems, and advanced driver-assistance technology.

Last week, speaking at the CIBC Technology & Innovation Conference 2026, BlackBerry CFO Tim Foote said the company has transformed from a cash-burning business into a profitable software venture.

The simultaneous rallies in Nokia and BlackBerry highlight a broader market shift away from expensive software names toward infrastructure-focused companies with lower valuations and recurring revenue streams.

What NOK, BB Retail Traders Are Saying

On Stocktwits, retail sentiment around Nokia turned to ‘neutral’ from ‘bullish’ territory the previous day. Whereas sentiment around BlackBerry shifted to ‘extremely bullish’ from ‘bullish’ territory the previous day.

A user said, “Nokia’s future is bright; the sky’s the limit.”

Another user said, “the market is still missing the real story behind Blackberry and QNX.  $10 is a fair price for the business as it has been.  But QNX and Blackberry have been busy.  QNX Alloy Kore should 5x to 10x QNX revenues per car and create recurring revenue.”

NOK and BB stock have surged over 185% and 91%, respectively, in the last 12 months.

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Shivani Kumaresan has no position in any of the stocks mentioned in this article. StockTwits’ news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits.

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