"Two hundred fifty million cars run its software, it just broke to a new high on earnings, and the chart is coiled tight."Nate Bear, Lead Technical Tactician, Monument Traders Alliance
Two hundred fifty million cars run on software from a company most people think is dead. That is the number that put BlackBerry, ticker BB, on my watchlist this week. Not the phone everybody remembers. The operating system, called QNX, sitting inside a quarter of a billion vehicles right now, running the dashboards and the driver-assist systems that have to work flawlessly every time somebody turns a key. You have probably ridden inside this company's software a hundred times without knowing the name was attached to it. That number is the whole story, because of where the car industry is headed. The market is obsessed with what it calls physical AI, machines that act in the real world instead of just answering questions on a screen. Self-driving cars are the front edge of it, robots in warehouses and factories are right behind. Every one of those machines needs an operating system underneath it that does not glitch while a two-ton object is making a decision at highway speed, and BlackBerry already owns that job in 250 million cars. The company is now aiming the same software at robotics and industrial machines, and it flat-out calls its automotive business the proving ground for physical AI. That is not the company Wall Street has in its head, and yesterday the distance between the two snapped shut in a hurry. BB reported earnings and jumped almost 20% in one session to $10.34, on roughly 70 million shares, more than double a normal day. Revenue grew 26%. Profit beat. The company turned its first cash-positive fiscal first quarter in nine years and raised its guidance for the year. A stock people left for dead just printed a growth quarter and broke to a new high. The chart was already telling me something before the number hit.
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