Google Is Never Going to Buy BlackBerry

investorplace2021-11-11

InvestorPlace columnist Larry Ramer recently argued that Alphabet(NASDAQ:GOOG, NASDAQ:GOOGL) and Qualcomm(NASDAQ:QCOM) would become potential buyers of BlackBerry(NYSE:BB) once they become more ...

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精彩评论

Bonds
2021-11-13
Bonds
They will proof to you that you are undoubtfully WRONGin the world of business anything can happen
荷马先生
2021-11-12
荷马先生
空谈这个有什么意义
FALCON
2021-11-11
FALCON
Nice
- FALCON:
  ok
Avg123
2021-11-11
Avg123
Thanks for the update
底买顶卖
2021-11-11
底买顶卖
ok
- jerryang17:
  Ok.
458fd99c
2021-11-11
458fd99c
Ok
- 458fd99c:
  Ya

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Ramer believes that’sa good reason to buy BB stock.\nthe BlackBerry logo presented on a white backgroundSource: Shutterstock\n“Companies can’t hire enough cybersecurity experts to protect themselves from ruinous hacks, so they need top-notch products like those of BlackBerry to defend themselves,” Ramer stated in his Oct. 18 column.\n“As a result, there’s tremendous demand for BlackBerry’s products, making the company a potentially alluring takeover target. Additionally, BlackBerry’s systems will enhance the attractiveness of an acquirer’s products…by making them more secure and private.”\nPerhaps I’m missing something. Isn’t BlackBerry still losing money? And if the QNX operating system was so vital to Google’s business, I am sure that Alphabet would already have acquired BlackBerry.\nIt doesn’t seem like sensible capital allocation for Alphabet to pay billions of dollars to acquire BlackBerry when it can give the Canadian company a lifeline by choosing to work with it on Android Automotive.\nIn the end, Alphabet may buy BlackBerry.However, I don’t think that’s going to happen. Here’s why.\nBB Stock Is Up 113% Over the Past Year\nAlthough BB stock is up 120% over the past 12 months, it’s traded between $10 and $15 for most of 2021.\nIn mid-September, before BlackBerry reported less-than-stellar fiscal second-quarter results,InvestorPlace contributor Ian Bezek argued that there was little evidence to point to a turnaround by the company.\nExcept for its Internet of Things (IoT) applications, including its QNX operating system, there was little at BlackBerry to justify its hefty valuation,, Bezek said.\nSo let’s consider itsQ2 results.\nIts three operating segments combined delivered a 32.4% decrease in revenue — $175 million compared to $259 million — over the same period a year earlier.\nThe revenue of the company’s cybersecurity business was flat year-over-year at $120 million. The unit accounted for 69% of the company’s overall sales. The sales of its QNX-dominated IoT unit, which Bezek thought was a bright spot in an otherwise terrible situation , generated a year-over-year sales increase of 29%, with its top line reaching $40 million. However, its licensing and other segment had just $15 million in revenue in the quarter, down from $108 million a year earlier.\nSegment Revenue for All of 2022\nAccording to BlackBerry’s Q2 10-Q report, the company says it expects its cybersecurity unit to generate modest sequential growth for the final two quarters. Let’s assume 5% sequential growth each quarter. That translates to $126 million in Q3 and $132 million in Q4, resulting in a full-year total of $485.3 million.\nAs for IoT, its revenue climbed 23% over the first half of the year, to $83 million. So let’s assume that it generates $166 million in 2021 . That brings us to $651.3 million in full-year revenue from two out of the company’s three segments.\nFinally, its licensing and other segment, which includes its patent portfolio, is expected to generate $60 million in 2022, down from its original guidance of $100 million.\nThat would bring the company’s revenue this year to $711.3 million. Last year, its top line was$893 million. If my estimates prove to be correct, BlackBerry’s revenues will have declined over 31.6% since 2018.\nAnd, based on my estimates, the IoT segment would only account for 23% of the company’s overall revenue.\nThe Bottom Line\nWhy would Alphabet or Qualcomm pay $6.2 billion for BlackBerry when they could only immediately utilize the IoT segment, which I expect to generate $166 million of revenue this year? That’s a price-sales multiple of 37 times.\nIt’s true that a purchase price of $6.2 billion would value the entire company at eight times sales, based on my estimate. But then the acquirer would have to spend time extracting the necessary value from BlackBerry’s cybersecurity and patent portfolio segments to justify the multiple.\nI don’t think that will happen because, in order to stay in business, BlackBerry will gladly sell Google the QNX Hypervisor software needed to run the Android Automotive operating system.\nFrom my vantage point, BlackBerry is in no position to reel in such a significant buyer. Maybe I’m wrong, but I don’t think so.\nBB stock isn’t worth more than single digits.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":879722551,"gmtCreate":1636776223440,"gmtModify":1636776223612,"author":{"id":"3582366643541036","authorId":"3582366643541036","authorIdStr":"3582366643541036","name":"Bonds","avatar":"https://static.tigerbbs.com/7927febac32666ca13d21b532f0ff6f6","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582366643541036"},"htmlText":"They will proof to you that you are undoubtfully WRONGin the world of business anything can happen&nbsp;","listText":"They will proof to you that you are undoubtfully WRONGin the world of business anything can happen&nbsp;","text":"They will proof to you that you are undoubtfully WRONGin the world of business anything can happen","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879722551","repostId":1128683847,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":879904178,"gmtCreate":1636674922992,"gmtModify":1636674922992,"author":{"id":"3570605047103152","authorId":"3570605047103152","authorIdStr":"3570605047103152","name":"荷马先生","avatar":"https://static.tigerbbs.com/1d69283377af06639e7c3544aa273e68","vip":1,"crmLevel":1,"crmLevelSwitch":1,"idStr":"3570605047103152"},"htmlText":"空谈这个有什么意义","listText":"空谈这个有什么意义","text":"空谈这个有什么意义","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879904178","repostId":1128683847,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":870596248,"gmtCreate":1636630435069,"gmtModify":1636630435189,"author":{"id":"3584817540991212","authorId":"3584817540991212","authorIdStr":"3584817540991212","name":"FALCON","avatar":"https://static.tigerbbs.com/c0d98873fea539ae720f8695900f4238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584817540991212"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870596248","repostId":1128683847,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6537461,"gmtCreate":1636630458456,"gmtModify":1636630458483,"authorId":3584817540991212,"author":{"id":3584817540991212,"authorId":3584817540991212,"name":"FALCON","avatar":"https://static.tigerbbs.com/c0d98873fea539ae720f8695900f4238","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":870596248,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"CN"},{"id":870258485,"gmtCreate":1636625341933,"gmtModify":1636625341933,"author":{"id":"3586313646240085","authorId":"3586313646240085","authorIdStr":"3586313646240085","name":"Avg123","avatar":"https://static.tigerbbs.com/1396c9a9a31b9f626014d1f142fd2839","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3586313646240085"},"htmlText":"Thanks for the update&nbsp;","listText":"Thanks for the update&nbsp;","text":"Thanks for the update","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/870258485","repostId":1128683847,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":870222719,"gmtCreate":1636624261503,"gmtModify":1636624262638,"author":{"id":"3575044403730346","authorId":"3575044403730346","authorIdStr":"3575044403730346","name":"底买顶卖","avatar":"https://static.tigerbbs.com/b41dfc8827b17f2442f628bf066fb51e","vip":1,"crmLevel":9,"crmLevelSwitch":0,"idStr":"3575044403730346"},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870222719","repostId":1128683847,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6536705,"gmtCreate":1636624426269,"gmtModify":1636624426386,"authorId":4092410761566010,"author":{"id":4092410761566010,"authorId":4092410761566010,"name":"jerryang17","avatar":"https://static.tigerbbs.com/1eb61373cf0be973dd9dc7f072c54352","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":870222719,"type":1,"supId":0,"prevId":0,"content":"Ok.","text":"Ok.","html":"Ok."}],"langContent":"CN"},{"id":870213975,"gmtCreate":1636621540238,"gmtModify":1636621540416,"author":{"id":"3527303552443900","authorId":"3527303552443900","authorIdStr":"3527303552443900","name":"458fd99c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3527303552443900"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870213975","repostId":1128683847,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6536258,"gmtCreate":1636621545152,"gmtModify":1636621545183,"authorId":3527303552443900,"author":{"id":3527303552443900,"authorId":3527303552443900,"name":"458fd99c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":870213975,"type":1,"supId":0,"prevId":0,"content":"<u>Ya</u>","text":"<u>Ya</u>","html":"<u>Ya</u>"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":41,"commentSize":12,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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