OK, let's take a look at BlackBerry for a second. The company's stock closed Monday at $14.23, down almost 5%. There are rumors that "an established partner" just ordered 1 million BlackBerrys, and speculation says it's Brightstar, a company whose business is distributing smartphones to retailers. But the market doesn't seem encouraged. Goldman Sachs downgraded the company on Monday to "neutral" from "buy," and set a price target of $17. There is always the question as to whether BlackBerry has the chops to make a new operating system work. The company had the lion's share of the early (business) smartphone market -- but that was then. The BlackBerry brand fell out of favor as more people turned toward touch screens and phones that act more like personal assistants than telephones, and that trend has only accelerated. Late last year, the company lost 1 million customers in just one quarter, prompting a 48% drop in revenue in its fiscal third quarter.
BlackBerry still has some standing in government agencies, but even that is on the decline. In August 2009, more than 77% of federal managers carried a BlackBerry. By September 2011, that figure had dipped to less than 50%. In May 2012, National Oceanic and Atmospheric Administration program manager Stefan Leeb said his group was no longer buying BlackBerrys and that there was an intention in place for his agency to be off those systems by June 1. And NOAA isn't the only government agency with a change of heart.
Take indoor mapping, for example. It likely will be the next big craze in mobile technology. Google currently offers the capability but only in some locations, such as airports, malls and sports venues. Apple only just entered the game. Apple recently paid around $20 million to acquire indoor-GPS company WifiSLAM, which could mean that an iPhone update is coming. If you are launching a new phone with a new operating system and you really need to make it work, wouldn't you try to offer a product that has features your competitors don't? I really doubt the abilities of any company that aims for third place, even if there is a company out there willing to buy a million phones at once. I say, get out now -- or at least soon. I highly doubt BlackBerry is even going to reach Goldman's $17 target. The company's stock has a 50-day moving average of $14.46. Anything over that, sell. There are better places to put your money. -- Written by Renee Butler in Seattle. At the time of publication, the author had no position in any of the stocks mentioned. Follow @ReneeAnnButler This article was written by an independent contributor, separate from TheStreet's regular news coverage.