NOK, MU, and BB Stocks Hit 52-Week Highs: What’s Driving the Rally?

Nokia, Micron Technology and BlackBerry all reached fresh highs on Tuesday as investors continued rotating into companies tied to the infrastructure supporting artificial intelligence. The move reflected growing confidence in the businesses that provide networking equipment, memory chips and cybersecurity tools needed to build and run AI systems.

Nokia shares rose to a 27-year high as the market reassessed the telecom equipment maker’s role in high-speed AI data networks. Investors have become more optimistic about Nokia’s expanding AI and cloud networking operations, as well as its optical networking business. The company’s acquisition of Infinera last year strengthened that position. Recent quarterly results, rising revenue from AI and cloud-related products, and new partnerships with AMD and Super Micro helped support sentiment. Nokia also received FCC approval for its broadband products, adding another boost to investor confidence.

Micron Technology had the strongest move of the group, with shares surging to a record high. The rally was driven by continued demand for advanced memory products used in AI accelerators and high-performance computing systems, especially HBM3E and HBM4 chips. Investors viewed Micron as one of the key beneficiaries of the ongoing AI buildout. The stock also gained after UBS sharply raised its price target, pointing to stronger long-term earnings potential and improving conditions in the memory market. The firm said AI adoption could support much higher earnings and free cash flow for Micron through 2029. Micron also crossed the $1 trillion market value mark for the first time, highlighting how central the company has become to the AI investment boom.

BlackBerry also advanced to a new one-year high as investors remained confident in its QNX software and cybersecurity businesses. QNX continues to be widely used in connected vehicles and industrial systems, giving BlackBerry a stable software footprint in automotive and embedded technology markets. The company has also been working to streamline its operations and expand government-related cybersecurity offerings, including recent certifications for its AtHoc communications platform. Those developments have helped improve sentiment around BlackBerry’s software and licensing revenue.

The broader rally showed how investors are increasingly favoring companies that support the physical and digital backbone of AI rather than only the most visible software names. Nokia and BlackBerry each finished the session more than 6% higher, while Micron jumped more than 19%. Year to date, Micron has climbed more than 213%, Nokia about 154% and BlackBerry about 122%, reflecting strong momentum across the group as AI demand continues to reshape market leadership.