Canaccord Genuity analyst Mike Walkley dramatically slashed his sales estimate for BlackBerry’s Z10 flagship smartphone today, less than three weeks after the Waterloo-based company’s big launch late last month.
Walkley now thinks BlackBerry will sell just 300,000 units, down 85% from the nearly two million units he originally suggested. He cites the late US launch and looming big launches from competitors like Samsung and Apple as major factors that will cripple Z10 sales this year.
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The analyst has a sell rating on the stock and a $9 price target. But it appears that his words are falling on deaf ears. BlackBerry rose almost 2% in trading today to $14.50 per share.
BlackBerry, for one, says its launch days in Canada and the UK were its best ever. Chief executive officer Thorsten Heins issued an official statement earlier this month that described the Canadian launch of BB10. According to Thorsten, the Z10 launch day “was the best day ever for the first day of a launch of a new BlackBerry smartphone” in Canada.
Specifically, he said the company sold 50% more devices than during any other BlackBerry device launch in Canada.