BlackBerry stock is a hit this year. Despite the company's troubles, BlackBerry stock is up 50% this year, at a time when Apple's incredible rally is only 20%, and Google is up only 5% for the year. The company turned its financials around with a new CEO who cut costs and refocused on enterprise. Investors seem to like what they see so far, but The Motley Fool warns BlackBerry has done little to improve its revenue stream. Relying on cost cutting measures only won't get them very far.
Investors aren't paying attention to the warnings yet. Perhaps they like BB's plan to focus on enterprise and leverage BBM as a secure messaging app for business. Perhaps they like recently announced devices like the BlackBerry Passport even though it has yet to prove its worth.
Investors are likely simply excited to see some good news from BlackBerry for a change. Since new CEO John Chen arrived things have felt better. His cost cutting measures have given a renewed sense of hope to the company who was on its way to the tech graveyard. His insistence that some people still prefer physical keyboards and his bet on a new 1:1 ratio square display give some people hope that he can pull off a miracle.
Whatever the case, BlackBerry stock is hot and still riding high. Has it reached the top yet? Nobody knows, but cost cutting by itself won't cut it. BlackBerry needs to find ways to increase revenue. Let's hope the Passport is a hit!
[ Photo Credit ]
Investors aren't paying attention to the warnings yet. Perhaps they like BB's plan to focus on enterprise and leverage BBM as a secure messaging app for business. Perhaps they like recently announced devices like the BlackBerry Passport even though it has yet to prove its worth.
Investors are likely simply excited to see some good news from BlackBerry for a change. Since new CEO John Chen arrived things have felt better. His cost cutting measures have given a renewed sense of hope to the company who was on its way to the tech graveyard. His insistence that some people still prefer physical keyboards and his bet on a new 1:1 ratio square display give some people hope that he can pull off a miracle.
Whatever the case, BlackBerry stock is hot and still riding high. Has it reached the top yet? Nobody knows, but cost cutting by itself won't cut it. BlackBerry needs to find ways to increase revenue. Let's hope the Passport is a hit!
[ Photo Credit ]