Those of you with BlackBerry stock saw a nice jump yesterday as Societe Generale’s Andy Perkins upgraded the stock to a buy. I just thought it was worth mentioning after the fact because his stock “checks” show that BlackBerry has sold more Z10’s and Q10’s in the last month than Wall Street is expecting. Enough sales to actually jump his stock target to $17 from $13. Here are some of the details from Barrons:
However, our channel checks have come up with some surprisingly strong numbers for RIM’s unit sales for Q1 FY14. We forecast Z10 unit sales of over 4m. Although the initial reaction to the Q10 has been positive, it has only been available in a few countries for a limited period. We would be surprised if total sales of the Q10 model exceeded 1m units. In total, we believe that Blackberry 10 handsets could record sales in excess of 5m units. We believe that this is above consensus which is between 3m and 4m units for the quarter. As for the older units, we still believe there is demand for the 9220, 9320 and 9900 handsets but that this is falling rapidly.
It should be interesting to see who is right when BlackBerry announces their numbers. You always have to swallow a huge grain of salt when it comes to analysts…
