Home  »  Stocks Trading   »  BlackBerry (BB) Stock Added Nearly 42% After AWS C...

BlackBerry (BB) Stock Added Nearly 42% After AWS Collaboration Amazon For IVY

Thanks to the news of collaboration with Amazon.com Inc. (AMZN) in automotive technology, BlackBerry Ltd. (BB) got a strong increase past week.

The 19% rise in stock price on December 1 was attributed to the fact that BlackBerry will establish a platform for collecting and analyzing data generated by car sensors together with Amazon. A flexible computing framework that uses the AWS cloud, BlackBerry IVY, plays a central role in the collaboration. The platform provides safe methods for gathering sensor information, transforming and preparing real-time analysis data blocks.

As BlackBerry may enter a major market for new automotive information technologies, the news provoked a positive reaction from investors. The relationship with Amazon is not fresh, however this exciting path for BlackBerry began as recently as January 2020.

By providing a machine learning platform for working with data collected, stored and distributed by devices from hundreds of different manufacturers, BlackBerry tries to play an important role in this market. In this sector, there are no industry standards in many respects so far and BlackBerry has the chance to become a pioneer in the new connected car market. The performance of players such as Qualcomm Inc. (QCOM), which profits greatly from the sale of chips and licenses for mobile communication systems, may be replicated if the company succeeds.

BB already earns royalties from licenses for its QNX embedded operating system in the automotive market. But auto-only accounts for a tiny chunk of the company’s business. QNX brought in revenue of $216 million last year, nearly 20 percent of BlackBerry’s overall revenue.

BlackBerry’s stock price has surged more than 42 percent over the past 10 days since December 1, while over the week gain stands at 12.20 percent. BlackBerry Limited (BB) was up 0.37% at close of the session on Thursday to settle at $8.37.

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts

3 Top Biotech Stocks to Watch

Companies in the biotechnology industry work on the development of drugs and diagnostic technologies to treat medical conditions and diseases. Most Biotech products must undergo