Blackberry Share Price: Research In Motion Ltd (NASDAQ:BBRY) BlackBerry is one of those companies going through a lot of ups and downs. Just when things can’t look any worse, something good comes about.
On the same token, just when things for BlackBerry seem to be moving in the right direction the company takes a turn for the worse.
Despite the fact that the Research In Motion Ltd (NASDAQ:BBRY) BlackBerry Q10 is selling well in both the UK and Canada, with hope for more of the same in other markets in the months to come, shares dipped by more than 5 percent yesterday thanks to a report by Pacific Crest Securities touching on a lack of sales momentum for the company’s new operating system.
This is hard to believe, being that so many reports have stated that the new BlackBerry Q10 is selling well. In fact, it is the top selling device of its kind in Selfridges department stores in the UK.
Image: Research In Motion Ltd (NASDAQ:BBRY)
Pacific Crest analyst James Faucette has an underperform rating on BlackBerry, as he doesn’t believe that sales of the Q10 have been as strong as they should be.
Here is what he had to say in a recent note to clients, as published by Hindustantimes.com:
“We believe the production levels of 1.5 million to 2 million units per month are well in excess of the sell-through.”
With this in mind, he noted that the company will likely have to cut production levels in the near future.
As noted above, this is in contrast to what we have heard in the past. For example, Jefferies analyst Peter Misek had good things to say about the Research In Motion Ltd (NASDAQ:BBRY) BlackBerry last week noting that sales have been strong in both Canada and Britain.
Is BlackBerry once again getting the short end of the stick? While the once dominant smartphone company may not be at the top of the industry any longer, it appears to some to be moving in the right direction.
However, Pacific Crest analyst James Faucette is not buying into the company’s current sales numbers, more specifically those attached to the Q10.
Maybe we should let the Research In Motion Ltd (NASDAQ:BBRY) Q10 launch in the rest of North America, as well as other markets, before judging it.
For more on this device, including why some feel that it could put BlackBerry back on the right track, watch the video on the next page: