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Ericsson provides telecom equipment and services that are primarily used to build and facilitate mobile networks through operations in three segments: networks, cloud and software services, and enterprises. The firm's customers have historically been primarily wireless carriers, but the firm is making a push to cater more to other enterprises as well, both as they try to take advantage of 5G capabilities and on other "as-a-service" communications platforms. The company also licenses its patents to handset manufacturers so their devices are compatible with wireless networks.
Telefonaktiebolaget L M trades on the NASDAQ stock market under the symbol ERIC.
As of April 18, 2024, ERIC stock price climbed to $5.06 with 29,019,926 million shares trading.
ERIC has a beta of 1.14, meaning it tends to be more sensitive to market movements. ERIC has a correlation of 0.18 to the broad based SPY ETF.
ERIC has a market cap of $16.85 billion. This is considered a Large Cap stock.
Last quarter Telefonaktiebolaget L M reported $5 billion in Revenue and $.07 earnings per share. This fell short of revenue expectation by $-209 million and exceeded earnings estimates by $.02.
In the last 3 years, ERIC stock traded as high as $14.39 and as low as $4.33.
The top ETF exchange traded funds that ERIC belongs to (by Net Assets): FIVG, TDIV, AIQ, FTLS, AVDE.
ERIC has underperformed the market in the last year with a return of -10.3%, while the SPY ETF gained +22.3%. In the last 3 month period, ERIC fell short of the market, returning -14.2%, while SPY returned +6.1%. However, in the most recent 2 weeks ERIC has outperformed the stock market by returning -2.7%, while SPY returned -3.8%.
ERIC support price is $4.84 and resistance is $5.03 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ERIC stock will trade within this expected range on the day.