2 to 3 Million BlackBerry 10 Phones Expected to Sell Per Quarter in 2013, says Goldman Sachs

z10-sales

Goldman Sach’s Simona Jankowski is being quite bullish about BlackBerry. Jankowski has a buy rating with a price target of $19. Her view is that BlackBerry 10 sales will rise from 500,000 last quarter to 2 or 3 million every quarter after in 2013.

Jankowski’s checks show the BlackBerry Z10 is selling exceptionally well:

“We conducted retail checks at nearly 40 stores in the UK, Canada, UAE, and India, to gauge the Z10 launch sales and subsequent demand. Specifically, we asked questions around popularity, sales trajectory, consumer feedback, inventory, and return rate. Based on these, we believe that most stores had a successful launch week, followed by steady demand for the device […] Z10’s pricing around the world implies an ASP of over $500, well above the November quarter’s smartphone ASP of $227 (Exhibit 1). As a result, we expect the Z10 ramp to drive a significant increase to BlackBerry’s ASPs and margins, implying upside to consensus estimates in FY4Q and to a greater extent in the May and August quarters, which include 3 months of shipments globally as opposed to 1 month of shipments in limited regions in FY4Q (Feb).”

Even famed BlackBerry bear, Peter Misek, has begun to be bullish. His checks show build orders have been raised 3 times in 6 weeks. Misek speculates the 1 million handset order came from a U.S. carrier or a top distributor (Ingram Micro/Brightstar).

via Barrons

 







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