1 Oversold Tech Stock Releasing Earnings Today

Blackberry (TSX:BB)(NYSE:BB) is a Waterloo-based company that provides intelligent security software
and services to enterprises and governments around the world. This technology company provides
investors with exposure to exciting sectors like cyber security and the automotive software space.
However, these are also some of the most competitive sectors.

Shares of Blackberry have plunged 42% in 2022 as of close on September 26. The stock is down 46% in
the year-over-year period. This top tech stock has lagged as it has been unable to gain significant
momentum in its recent quarterly reports. That said, it has sent off an enticing buy signal in recent
weeks.
The company is set to unveil its second quarter earnings after markets close today. In Q1 FY2023,
Blackberry reported total revenues of $168 million – down from $174 million in the prior year.
Meanwhile, it posted a net loss of $181 million compared to a net loss of $62 million in the first quarter
of fiscal 2022. That said, it did post growth in its cyber security and IoT businesses.

Relative Strength Index (RSI) is a technical indicator that measures the price momentum of a given
security. This tech stock last had an RSI of 31. That puts Blackberry just outside of technically oversold
territory.

Blackberry has been a volatile hold for years, failing to break out in any significant way in an explosive
sector. Investors willing to take on risk may want to snatch up this promising tech stock on the dip in
late September.