Nokia and Ericsson have seen a huge uplift in their share prices in the last six months, of 59% and 40% respectively. Is this growth a realistic measure of the value of these firms, or the tailwind effect of the AI investment bubble that has crept into the telco sphere? Nokia, has seen quite a turnaround in the last three years. It had its worst year of stock market performance for over 10 years in 2023, when the share price bottomed out at $3.25 (it is $7.02 today). The nadir was caused because Nokia missed out on the $14 billion AT&T RAN deal. At the time, Nokia’s fighting strategy looked pretty thin. It said it would revamp the strategy for…