TD Securities analyst Scott Penner expects 1 million BlackBerry 10 subscribers for the fourth-quarter, but the next quarter will be a better gauge. "Given that most all BlackBerry subscribers are on a QWERTY device, the May quarter (availability of the Q10 is likely April for many markets and May/June for the U.S.) will be a better initial gauge of shipments," Penner wrote in a report. He rates BlackBerry "hold" with a $17 price target.
There has been a lot of concern about BlackBerry 10 entering an increasingly crowded market, as it goes up against smartphone behemoths such as Apple (AAPL - Get Report) and Samsung. Research firm Gartner said BlackBerry's shipments to emerging markets declined 33% year over year and 20% sequentially in the fourth quarter of 2012.
survey shows that Apple owned 21% of the smartphone market in the fourth quarter of 2012, with
(GOOG) Android owning 70.1%. BlackBerry's market share fell to 3.2% in the fourth quarter, shipping 7.4 million units.
Hudson Square analyst Dan Ernst believes the recent upside in shares may be unwarranted, particularly as the competition heats up."...