This Dow Giant Ditches BlackBerry for Apple iPhone
Home Depot (NYSE:HD) seems unimpressed by BlackBerry’s (NASDAQ:BBRY) recent launch of its Z10 phone just over a week ago, deciding to outfit all its store managers and corporate-level employees with Apple’s (NASDAQ:AAPL) iPhone 4S instead.
AppleInsider reports the switch will compromise about 10,000 BlackBerry phones, giving their business to the iOS provider. After a solid week for BlackBerry following its highly anticipated announcement of the Z10 and Q10 phones, don’t expect this upward trend to continue…
Home Depot, the world’s fifth-largest retailer, bringing in a profit of $947 million in its last reported quarter, is following a growing trend of big businesses shirking BlackBerry for the iPhone. The U.S. Immigration and Customs Enforcement agency announced last year it would purchase $2.1 million in iPhones for its 17,600 employees who, until October, had been using BlackBerry phones.
CHEAT SHEET Analysis: Apple Is Outperforming ALL of its Peers (next page)…
One of the core components of our CHEAT SHEET Investing Framework focuses on a company’s performance relative to its peers. News of Home Depot’s switch is not only a win for Apple against BlackBerry, but also a win against its Android competitors, such as Samsung.
After ICE announced its switch to the iPhone, the U.S. National Transportation Safety Board and Australia’s Treasury Department announced similar moves. This suggests the iPhone is the new business phone, meant for the serious professional and the average user. BlackBerry already has lost its dominance in this market, but if this trend continues, Apple may have solidified itself as the top choice for business professionals everywhere.
Here’s how Apple and BlackBerry have been trading:
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