One analyst has changed his stance and it’s not favourable for Waterloo-based BlackBerry.
This morning, Michael Genovese of MKM Partners cut his rating on BlackBerry to sell from neutral.
His new target share price is $10, down from his original $12.
Genovese points out that the new BlackBerry 10 has a lack of applications. He also cites stalled momentum in the United Kingdom and the market in the United States.
He adds they also think the new operating system isn’t enough to save the brand.
BlackBerry’s new Z-10 was launched earlier this month in Canada and the U.K.
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Brock,
I have been using the z10 coincided with Iphone since the day it came out. All i can say is that I’m glad the battery is removable. I have to pull it multiple times a day because of the usual Blackberry shakes.
This phone is absolutely horrible in all aspects compared to Iphone and Android. For you to say “Their platform is unbeatable” your out to lunch. I was a blackberry for life user until my eyes were opened by other devices i honestly feel ripped off after all my years of using blackberry.
Everything about the z10 is hideous, there is not a single feature that competes with current devices, save your money everyone and buy a android or iPhone.
I love this. Dumb analysts know nothing about technology yet make these ridiculous decisions to downgrade even though they have never used the phone. I only see this as a great buying opportunity. Later this year when people finally realize how crazy good this phone is they will all be upgrading their rating.
Never Ever Believe in any analysts unless they seriously research the products themselves. I am a programmer and designer and have used all the new smartphones out there. Blackberry buy far as the most different and unique approach. Their platform is unbeatable. No matter what any analyst says or even iphone or samsung user. Until they have tried the BB10 for a month they will never truly know the power of this phone.
here here, sorry RIM/Blackberry, your still playing catchup.
And for all those who will be video BBM’ing, good luck with your provider bills, I can’t even imagine how much bandwidth that service must use and at overage rates of $0.05/kb, WOW…I’m sure Bell/Rogers/Tellus are just rubbing their hands together. I’m sure glad Apple Facetime is restricted to Wifi, I couldn’t imaging what my bill would look like Facetime was LTE enabled. Parents, better watch your teenagers on BBM, a service like that could take you to the cleaners before you know it…. Like Geneovese says, the hype is over and momentum has stalled. When I was in NY CITY a few months back just after Christmas stores didn’t even have RIM products on their shelves nor did some of the salespeople even know of RIM (however they did know “Blackberry”) so maybe a good move there to change names….