Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Will BlackBerry Ltd (BBRY)’s Share Fall to $8 Following Passport’s Release?

BlackBerry Ltd (NASDAQ:BBRY) has been long trying to launch a device that can bring back its earlier glory. The company talked a big game when touting their newest phone, the Passport; hyping its better screen resolution, longer battery life, and expanded features that made it a direct threat to the premium smartphone division’s reigning and defending champions, the iPhone 6 and Galaxy S5. However as Forbes reported today, the 4.5”-screened, square smartphone is failing to impress critics or analysts.

BlackBerry Ltd (NASDAQ:BBRY)

In a note to investors yesterday, Citi analyst Ehud Gelblum reiterated a sell rating and $8 price target on BlackBerry Ltd (NASDAQ:BBRY). He was critical not only of some facets of the phone’s design, including the square-shaped screen for which the majority of apps are not optimized, but also for the company’s curious pricing plan, which will initially sell the phones at a discount both with and without contracts, but then up the price come October 1.

Deutsche Bank meanwhile reiterated their own $8 price target and hold rating on BlackBerry Ltd (NASDAQ:BBRY) in their own note yesterday, saying the phone was not transformative enough, and that they were skeptical it had any ability to help the Canadian company launch even a moderate comeback.

Other reviews have been critical of some of the phone’s features, including that odd square-shape, which BlackBerry Ltd (NASDAQ:BBRY) CEO John Chen admitted was partly so the phone would stand out rather than because it was seen as being better necessarily. Rather, reviewers have by-and-large found it worse, and say it makes the phone very difficult to use one-handed because of how wide it is. The phone has also been described as too top-heavy, which makes it even more unwieldy.

Yet the real blow for the phone probably comes from the fact that many of the features have been described as second-rate, including the BlackBerry Assistant, the Maps function, the camera, the operating system as a whole, and the selection of apps, despite BlackBerry Ltd (NASDAQ:BBRY) bringing the Amazon App Store and its 250,000 apps into the fold beginning with Passport.

BlackBerry Ltd (NASDAQ:BBRY) is down over 2% since the Passport launched yesterday, and is trading at $10.30 in afternoon trading.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.