Shares of BlackBerry Under Pressure as Two Firms Raise Concern on Z10 Sales
BlackBerry (NASDAQ: BBRY) shares have tumbled more than 7 percent Thursday following some negative comments from several research firms. The stock last traded at $13.64.
Traders are passing around notes from Detwiler Fenton and ITG Investment Research.
The Detwiler analyst warned a number of major US retail partners are pointing at "significant" returns of the Z10. Returns may now even be exceeding sales. The most prominent complaints, according to the firm, are the map app, the "unintuitive" nature of the new UI and the lack of apps in general.
Detwiler is modeling for 2.3-2.5 million BB10 units during BlackBerry's Q1.
ITG said sales of the Z10 started off "poorly" and "weakened significantly" from there.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.