In the meantime, Nokia investors have to wonder how long the company can survive given the rate at which its global market share is still eroding. Nokia's first quarter earnings report highlighted Elop's best asset -- he's a great CFO, nothing more. That's not what Nokia needs. While the company's cash flow is certainly improving, Nokia is still spiraling out of control.

As much as I've wanted to like Nokia's prospects as a good turnaround candidate, it doesn't appear as if this is a story that's going to end well unless the company finds a risk-taking CEO with a chip on its shoulder. I believe Scott Forstall is available. Don't you think he has an axe to grind with Apple?

At the time of publication, the author held shares of Apple.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Richard Saintvilus is a private investor with an information technology and engineering background and the founder and producer of the investor Web site Saint's Sense. He has been investing and trading for over 15 years. He employs conservative strategies in assessing equities and appraising value while minimizing downside risk. His decisions are based in part on management, growth prospects, return on equity and price-to-earnings as well as macroeconomic factors. He is an investor who seeks opportunities whether on the long or short side and believes in changing positions as information changes.

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