Once a smartphone innovator, BlackBerry Ltd. has pivoted fully toward a focus on cybersecurity and other software solutions. While the company has finally ended its legendary line of personal digital assistants, CEO John Chen thinks BlackBerry’s stock is undervalued. At CES 2022, which took place in January, Chen was able to publicly demonstrate some of the company’s new technology, including the newest edition of its automotive embedded software system, QNX, and intelligent vehicle data platform, IVY. Chen is bullish on his company’s stock, which is trading significantly below its “meme stock” surge to $25 per share, citing these recent developments and the potential for more advances in sectors like electric vehicles (EVs).
As it attempts to shed its association with cellular tech, BlackBerry is hoping to make a big impact in its new, broader markets of automotive and cybersecurity software technologies. Cybersecurity is growing like few other sectors as a response to constant global threats, which gives Chen’s company the advantage of name recognition in a flooded marketplace. As automotive companies shift focus onto EVs, autonomous driving, and other emerging tech, BlackBerry already has a foothold in many manufacturers and platforms. Despite Wall Street’s less optimistic forecast, Chen thinks BlackBerry has what it takes to make another run to the top of a budding industry.
