Where Will BlackBerry Stock Be in 5 Years?
BlackBerry's (NYSE: BB) brand was once synonymous with smartphones, but its heyday ended after iPhones and Android devices split the market. By the time John Chen took over as CEO in 2013, the Canadian tech company had become a desiccated husk of its former self.
Instead of trying to revive the BlackBerry's dying smartphone business, Chen phased out the unit and licensed its brand to third-party smartphone makers. Chen then leveraged BlackBerry's reputation in enterprise security to expand its software and services segments.
That turnaround, which was buoyed by big investments and acquisitions, was a grueling process. But BlackBerry's annual revenue growth finally turned positive again in fiscal 2020, which ended last February. Its shares also briefly hit a nine-year high of $25.10 this January amid the Reddit-fueled short squeezes, but those gains quickly evaporated.
Source Fool.com
