Analyst cuts rating on BlackBerry, stock falls
In a note to clients, Ferragu said, "The initial enthusiasm that we observed for Blackberry 10 devices now appears to be waning," and cut his target on the stock to $10 from $15. BlackBerry has introduced three BlackBerry 10 models this year with another 3 to 4 expected before the end of the year. BlackBerry has been guarded about how well the all-touch BlackBerry Z10 and the QWERTY equipped BlackBerry Q10 have fared in the market, so the earnings report is expected to be closely watched by both Wall Street analysts and industry players.
As of mid-day Wednesday, BlackBerry shares were trading at $14.16, down 68 cents on the day. Last September, the stock traded as low as $6.22.
1. jdoee100 (Posts: 261; Member since: 04 Jun 2013)
Can't trust news aka trash anymore. One day, it's doing great. Next day, it's doing terrible. Huh? Only hard numbers like revenue, profit, etc tell the truth.
5. PhoneArenaUser (Posts: 4579; Member since: 05 Aug 2011)
"Can't trust news aka trash anymore. One day, it's doing great. Next day, it's doing terrible. Huh?"
I think that BlackBerry was spreading propaganda to artificially increase confidence in BlackBerry.
6. Nikolas.Oliver (Posts: 1304; Member since: 01 Jul 2012)
BlackBerry propaganda haha, Like North Korea :)
11. PhoneArenaUser (Posts: 4579; Member since: 05 Aug 2011)
Not like North Korea, but still propaganda.
Propaganda exist not only in North Korea.
7. cornerofthemoon (Posts: 466; Member since: 20 Apr 2010)
One day Blackberry is booming, the next day it's screwed, then booming again, then screwed....My head is spinning.
8. XPERIA-KNIGHT (Posts: 2384; Member since: 08 Aug 2012)
Dude you're such a hater......^^@Nikolas Oliver
9. GeekMovement (Posts: 1495; Member since: 09 Sep 2011)
i hope blackberry can step it up and continue to improve their bb10 os. I'd really love to give it a try if only Sprint would carry them (and windows phone)... dang it sprint!
13. ibap (Posts: 669; Member since: 09 Sep 2009)
And when we find out Ferragu is busily selling the stock short? (And I mean that literally, in the market.)
16. vddeguzman (Posts: 41; Member since: 12 Jul 2012)
That's too bad. But maybe they just have to launch more devices to keep the buzz. That's why Samsung, Sony, LG keep on launching so many models almost every month.