Jamok,

The initial reaction to NOK was way overdone.  I read the CC transcript and I am not surprised that the trading action during the day reversed the steep loses to the initial reaction in Europe.  There, the stock opened some 8% down.

The backlog growth and the equipment sales mix going into that backlog is what is so positive.  The projected start of 5G is also what is propeling the backlog growth and mix. Even though no specific dates were given for 5G, I have read that T-Mobile starts 5G in this second quarter. VZ and T should be very incentivized to start theirs soon there after.

I believe 5G is what will make the sales mix so bullish when deployment starst.  5G should pull in a lot of Optical and Routing and Switching gear, if so, the company should continue to grab market share going into this long cycle.

BTW, I believe that the penalties slapped on ZTE are way over done.  I can see the ban to sales in the US as standard, but banning them from buying any parts from the likes of all the optical components, all the semiconductor companies in the US quite harsh. IMO this is a Trump tactic to get China to soften up and make trade concessions.  That is confirmed by the DoJ opening a criminal probe into Huaweii also.  Trump is kicking China where it hurst.

That said, it should definitely help both Ericsson and Nokia.  Given that trade is a very slow process to resolve, ZTE and Huaweii will be in the house of pain for quite some time and that should open up many doors for Nokia and Ericsson.  Bullish, regardless of whether the punishment fits the crime.