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Does Blackberry Stock Hold Potential Ahead of Q322 Earnings?

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Updated: 20 Dec 2021

 

  • Blackberry's business shift is stirring up the cybersecurity market, but that isn't it…
  • Ahead of Q3 earnings, Blackberry stock is down 3%

In what seems like an age ago now, Blackberry’s (NYSE: BB) once monopoly on its unique keyboard-smartphone propelled the company into tech-fame. Yet as consumer trends changed and technology continued to peel off in different directions – the name Blackberry quickly fell from its podium.

Yet recently, aside from meme-stock touting, Blackberry has trickled back into investors’ portfolios off the back of various internal shifts and innovative partnerships – but how far away is long-term profitability?

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Attempting to cash in on the software boom, Blackberry shifted towards cybersecurity. It’s difficult to measure the true success of the company that illustrates 160% year-on-year growth; with fundamental growth hidden behind the mirage of the social meme brigade. With the company set on posting its Q3 results tomorrow, it will be interesting to see how actual financials are interpreted. 

Realistically, Blackberry’s reintegration efforts will probably be half-baked at best. What I mean by this is that Blackberry is attempting various different sector moves; cybersecurity, IoT applications, and even involvement in the emerging EV market.

The real problem is whether performance really matches with the company’s bold ambition. A lot of investors are questioning Blackberry’s outlook as it lacks any firm business focus – the company’s uncorrelated strategy seems a little risky.

This being said, the finalization of Blackberry’s messenger patent might welcome buyers back as well as increase company equity – yet the completion of this is yet to be confirmed. Similarly, the company’s EV software has a lot of potential, but in such a competitive environment; market share might be difficult to maintain.

Investors who feel confident about Blackberry’s wide-base strategy might want to consider entering while stock is low – BB stock is trading with a daily loss of 3.27% at a price of $8.85 ahead of tomorrow’s earnings release. 

 

Should you invest in Blackberry shares?

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