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BlackBerry Shares Soar in the Stock Market

blackberry

The BlackBerry 10 launch was one of the most awaited OS launches we’ve seen in a long time, and that is due to a number of reasons. Previous iterations of the BlackBerry OS failed to make any sort of an impact on the market due to its limited capabilities as a mobile operating system. But BlackBerry certainly upped the ante in a major way to bring BlackBerry 10 OS to the fore along with the Z10 and the Q10, with the latter arriving in a couple of months from now. Along with the new OS, the company also renamed itself as BlackBerry from Research in Motion. This meant that the company had to change their stock market ticker symbol as well. And it is now being reported that the stocks for BlackBerry (BBRY) is seeing a growth of 15.02% with the price at $14.98 (up by $1.96). The latest update however reveals that the shares prices have further risen at $16.24 now.  This indicates that the company is seeing good response and that the people are actually confident in the platform’s success. But we can’t exactly speculate as to how long this run will last. It should however be inspiring for the company, to come from $6.30 to in September 2012.

It is being said that the reason for the increase in prices was due to Bernstein Research upgrading BlackBerry to a respectable “Outperform” status. Since most of the trading is relied heavily on analysts and their predictions, it is understandable how the shares got to where it is now. However, several analysts have had several thoughts and opinions about the platform. But Bernstein Research seems to be the most confident as of now. Pierre Ferragu from Bernstein suggested that the demand for the smartphones will make for a good debut and the trading price can be expected to go up to $25 in the coming months.

Mr. Ferragu said – “We upgrade BlackBerry to outperform today as we believe BB 10 is set for a strong launch. Even if the long-term prospects for the platform are very uncertain, we believe all is in place for BlackBerry 10 to enjoy a great debut. The strength of this launch is overlooked by investors, creating strong opportunity to buy BlackBerry. We believe BlackBerry should trade in the $20-$25 range once a decent launch for Blackberry 10 and a stabilized trajectory for fiscal year 2014 are priced in.

For whatever the reason, it seems like the smartphone is doing pretty well in the market. While there obviously won’t be much threat to Android or iOS marketshare, it’s ultimately going to come down to Windows Phone 8. It now depends on how Microsoft adapts to the competition and makes itself more appealing to the customers.

Source: Reuters
Via: Phone Arena