$黑莓(BB)$ Where to Blackberry!!!
Lets face it, I was looking forward to higher revenue growth! But after reading the financial report and listening in to the Webcast, I revisited the disclosures and tried to get a sense of where Blackberry is going.
Cyber security produced a second 2022 quarter to quarter growth in revenue of 13%. On assumption of BB maintaining such growth over next 2 quarters, possible growth in this sector alone could reach 40% pa and compares favorably with Crowdstrike or Sentinel. If this portion of BB's business was to be valued in a similar way to it's competitors, on a discounted basis cyber security might be valued at $20 billion.
The QNX and IoT revenue side is growing exponentially, only hampered by the world shortage of micro chips. So, trying to be conservative, this part of BB's stock valuation might be worth $5 - 7 billion.
Combined, a $25 billion value equates to $50 per share. Discount this again to half and BB's shares could be in the $25 range within the next 9 months.
A reassessment of BB doesn't happen overnight but I believe we will enjoy the ride.
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