Global Survey Confirms Analyst’s Bearish Stance on Blackberry

The rich get richer in this installment of smartphone wars.

| More on:
The Motley Fool

With a $9 target, Canaccord’s analyst is one of the most bearish out there on Blackberry (TSX:BB,NASDAQ:BBRY) shares.  Therefore, it’s little wonder the “global survey” the firm conducted indicated “mixed Blackberry sell-through trends”.

Broadly speaking, Canaccord found that sales of the Z10 (no physical keyboard) have weakened over the past month or so.  Conversely, initial demand for the Q10 (keyboard) have been strong.  Combined, these findings made the analyst lower his sales estimate from 3.3 million to 2.8 million units in the current quarter.

Canaccord’s survey indicated that Samsung and Apple (NASDAQ:AAPL) continue to mop the floor with their smartphone competitors.  Samsung is estimated to have shipped almost 70 million smartphones during Q1/13, capturing 43% of industry profits.  Guess who earned the remaining 57%?  Apple.  Canaccord expects Blackberry, Nokia, and LG will turn in break-even results.

Blackberry’s short-sellers are banking on a continuation of survey results just like this.  The run that the stock has had of late however has begun to squeeze the legions of doubters.  We have created a special FREE report that identifies 3 U.S. businesses that are unlikely to ever experience a short squeeze.  The reason – these three companies are so dominant that no short-seller in their right mind would ever think of touching them!  Simply click here to receive “3 U.S. Stocks Every Canadian Should Own” – FREE!

Follow us on Twitter and Facebook for the latest in Foolish investing.

Fool contributor Iain Butler does not own shares in any of the companies mentioned in this report at this time.  David Gardner owns shares of Apple.  

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

More on Investing

edit Jars of marijuana
Cannabis Stocks

Is Tilray Stock a Buy in the New Bullish Market?

Canadian cannabis producer Tilray has underperformed the broader markets in the last five years due to its weak fundamentals.

Read more »

Woman has an idea

3 No-Brainer Stocks to Buy With $200 Right Now

These three stocks are no-brainer buys, given their solid underlying businesses and healthy growth prospects.

Read more »


2 Stocks I’m Loading Up on in 2024

Alimentation Couche-Tard (TSX:ATD) and another stock that are getting too cheap after their latest corrections.

Read more »

grow money, wealth build
Dividend Stocks

1 Top Dividend Stock That Can Handle Any Kind of Market (Even Corrections)

While most dividend aristocrats can maintain their payouts during weak markets, very few can maintain a healthy valuation or bounce…

Read more »

Red siren flashing
Dividend Stocks

Income Alert: These Stocks Just Raised Their Dividends

Three established dividend-payers from different sectors are compelling investment opportunities for income-focused investors.

Read more »

online shopping
Tech Stocks

1 Hidden Catalyst That Could Ignite Shopify Stock

Here's why Shopify (TSX:SHOP) ought to remain a top growth stock investors continue to focus on for the long haul.

Read more »

Oil pumps against sunset
Energy Stocks

Is it Too Late to Buy Enbridge Stock?

Besides its juicy and sustainable dividends, Enbridge’s improving long-term growth prospects make it a reliable stock to hold for the…

Read more »

Man considering whether to sell or buy
Tech Stocks

WELL Stock: Buy, Sell, or Hold?

WELL stock has a lot of upside as the company is likely to continue to grow, posting positive earnings in…

Read more »