BlackBerry Limited (BB – Free Report) has announced that its flagship QNX software is currently embedded in more than 150 million cars present on road. The latest feat marks an increase of 30 million cars since the cybersecurity software and services company presented its automotive footprint in 2018. The company is poised to benefit from surge in its business, while providing one of the most secure mobile enterprise solutions in the market.
The Canadian firm partnered with Strategy Analytics — a research and industry analyst firm — to substantiate the volume of QNX deployments based on the number of QNX products shipped in the automotive market, and the number of cars that comprise QNX products and technology. It is worth noting that the majority of QNX software products that are used in automotive electronic control units are licensed on a per-unit royalty basis.
With a holistic growth model, focusing both on organic and inorganic initiatives, the company aims to expand its market leadership in enterprise mobility. The acquisition of Cylance augmented its operations as it has provided additional cyber security capabilities with advanced artificial intelligence and machine learning technology.
As a leader in automotive cybersecurity, BlackBerry intends to maintain the highest degree of automotive certification for functional safety with ISO 26262 ASIL D. Moreover, the company has rich experience in driving mission-critical embedded systems in automotive and allied industries.
Further, the company has integrated the BlackBerry QNX and WHIS operating systems, which enables system designers to make the most of heterogenous multicore system on chips containing application cores in safety-critical systems to secure data.
Markedly, automotive original equipment manufacturers are using BlackBerry QNX technology in their advanced driver assistance systems, digital instrument clusters, connectivity modules, handsfree systems, and infotainment systems that comes in various prominent car brands.
Driven by increasing market traction of BlackBerry’s cutting-edge solution offerings, the stock has rallied 19.1% against the industry’s decline of 4.2% in the year-to-date period. Strong software sales continue to aid BlackBerry’s top line while growth in its cybersecurity business is a huge positive.
BlackBerry currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader industry are Comtech Telecommunications Corp. (CMTL – Free Report) , Motorola Solutions, Inc. (MSI – Free Report) and Ubiquiti Networks, Inc. (UBNT – Free Report) . While Comtech sports a Zacks Rank #1 (Strong Buy), Motorola and Ubiquiti carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech has long-term earnings growth expectation of 5%.
Motorola has long-term earnings growth expectation of 7.7%.
Ubiquiti has long-term earnings growth expectation of 19.8%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.