3 Great Gadget Stocks to Buy, and 3 to Sell

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3 Great Gadget Stocks to Buy, and 3 to Sell

Stock to Sell: BlackBerry

Blackberry 185 3 Great Gadget Stocks to Buy, and 3 to SellShares of BlackBerry have fallen dramatically from their January high, and I don’t see a comeback anytime soon.

The biggest reason for trouble at BBRY lately is BlackBerry earnings that included a surprise loss of $84 million on the quarter vs. an expected profit. Even worse than the minor loss was the major disappointment on Wall Street over gadget sales with only 2.7 million BlackBerry 10 devices shipped, sparking concerns that the Q10 and Z10 will not be the gamechangers many had hoped they would be.

BlackBerry was downgraded from “buy” to “hold” at Societe Generale on Monday after disappointing numbers. Analysts at Needham & Company and Deutsche Bank on also downgraded BlackBerry after the results. Targets around Wall Street continue to move lower, telling investors that the dip is expected to last.

BBRY believers point out that BlackBerry is trading for a fraction of book value. But BlackBerry stock hasn’t traded for par at any time in 2013, so why start now? Sentiment is clearly ugly, so investors should avoid this stock at all costs.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/3-great-gadget-stocks-to-buy-and-3-to-sell/.

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