Can Nokia (NYSE: NOK) come back from the dead?

The once high-flying Nokia (NYSE: NOK) hit a low of about $1 a share in July, and was given up for dead. There may now be catalysts for a revival.
Nokia is still the world’s #2 mobile handset maker, and it’s simpler phones are preferred in India and China. Nokia’s move to Window’s 8 operating system for the Lumia phones, might give it the boost it needs.
The company’s new CEO is a former Microsofter. Could there be a chance of MSFT buying NOK to better compete with APPL and GOOG? This is a long shot. The stock has had quite a run over the past few months and may be a good buy once it consolidates at lower levels. Additional story here and here.