“BlackBerry has had a rough of 2013, to put it mildly. The company has lost billions in market cap, it has [another] new CEO, and there’s speculation seemingly everyday about what the company can do to save itself, or even if can be saved at all,” Chris Ciaccia writes for BGR.
“BlackBerry is scheduled to report fiscal third-quarter earnings before the market open on Friday, and no one is expecting much, if anything, in CEO John Chen’s first foray with investors and analysts,” Ciaccia reports. “Societe Generale analyst Andy Perkins, who rates shares hold with a $6 price target, notes the situation has gotten worse since BlackBerry last reported, due to the failed acquisition by Fairfax Financial, and a continued loss of market share.”
“‘Under these circumstances, we consider it unlikely that the company will be able to continue in its current form,’ Perkins wrote in his note,” Ciaccia reports. “With all of the distractions going on around the company and uncertainty swirling like a funnel cloud, subscribers and corporations have been leaving BlackBerry in droves.”
Read more in the full article here.
MacDailyNews Take: Death spiral.
Obama stuck with BlackBerry, says not allowed an iPhone ‘for security reasons’ – December 5, 2013
Beleaguered BlackBerry CEO: ‘We are here to stay’ – December 2, 2013
Three execs ousted from beleaguered BlackBerry as new CEO tries to salvage what’s left of company – November 25, 2013
Pfizer dumps beleaguered BlackBerry phones for Apple iPhone, Android phones due to company’s ‘volatile state’ – November 15, 2013
Beleaguered BlackBerry plunges after sale to Fairfax falls through; CEO Heins out – November 4, 2013