Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

John Christy, editor of the Forbes International Investment Report, chose Nokia Corp. (NYSE: NOK) as his favorite stock for 2007, which rose 38% as of 6/1/07. Here is his original recommendation for Nokia and his new favorite stock for the rest of 2007.

Updating his outlook on Nokia, the advisor says, "I've been arguing for some time that investors have not been giving the company enough credit for its leading position in the global mobile phone market. Fortunately that mind-set appears to be changing, in part because of a strong Q1 earnings report.

"Although Nokia's net income for the quarter fell 7% due to some one-time charges, margins showed solid improvement across the board. At the same time, Nokia is gaining market share in key segments such as emerging markets (low-end) and in multimedia phones (high-end).

"The improvements in profitability suggest that Nokia is not pulling this off simply by selling dirt cheap phones. Instead, it looks more like the result of savvy cost control and continued innovation.

"Separately, Nokia and Siemens said that they plan to cut about 9,000 jobs in their telecom equipment joint venture. The reductions -- which were expected -- should help drive savings of $2 billion a year by 2010. The stock remains a buy in our global portfolio."