Moving yet another step forward toward total automotive dominance (at least on the software side), Canadian technology company BlackBerry Ltd. (TSX:BB)(NYSE:BBRY) has entered into an agreement with Qualcomm Inc. (NASDAQ:QCOM) to use Qualcomm’s hardware to run the BlackBerry’s new QNX Hypervisor 2.0 – its latest software platform to serve a host of automotive companies in search of the latest, greatest, and safest software platforms to run the host of electronic consumer-facing functions within their vehicle fleets.
While total market dominance may remain a goal to be achieved, BlackBerry has certainly carved out a nice niche for itself in the automotive sector, on track to turn a profit for fiscal 2017, paving the way for the company to become the investor-friendly cash flow machine of old. By expanding the company’s existing partnership with Qualcomm and enhancing the volume and scale of potential future cash flows, BlackBerry has positioned itself nicely as a speculative growth play in a technology sector which does not seem to be cooling by any means.
As with any other high-growth play, consider adding a small percentage of your portfolio to names like BlackBerry, should the company’s profile fit your long-term investing criteria. Diversification is key, and while BlackBerry may not be the same company it was 10 years ago, the redesigned software-only approach has certainly paid dividends in a relatively short amount of time (though not yet literally).
Invest wisely, my friends.
