BlackBerry‘s outlook for fiscal 2014 will be key, Especially after the less than fantastic launch of the BlackBerry Z10.
BlackBerry’s launch of their newest phone, the BlackBerry Z10, has been weak in the U.S. to the point where some analysts are already downgrading the stock. Simona Jankowski, analyst at Goldman Sachs, has removed the Waterloo, an Ontario-based technology firm for Goldman’s Americas Buy List due to the lack-luster launch at AT&T, lowering the stocks price target $2, from $19 to $17, and downgrading the stock to “neutral”.
Jankowski wrote, “We now assign a 20% probability of success for BB10, down form 30% previously, as the disappointing launch of the Z10 at AT&T reduces our confidence that sell-trough of the BB10 will be successful in the important market.”
Earnings prospects for the fourth-quarter are looking very good, and the consensus is that BlackBerry loses even more money this quarter. The analysts polled by Thomson Reuters expect BlackBerry to post a loss of 29 cents per share on their $2.84 billion in revenue.
Kris Thompson, analyst for National Bank Financial, says that if BlackBerry can take away the fears of investors about the weak domestic launch of the BlackBerry Z10 launch domestically, then they could continue to demonstrate a bullish tone.
If you would like to read more about BlackBerry’s financial future after the dim launch of the BlackBerry Z10, Click Here.