Amazon Is About to Make You Want to Dust Off Your Old Blackberry Phone
December 4, 2020
Remember the days before iPhones when the coveted phone of choice was the Blackberry? It may seem like a vague memory of the past, but BlackBerry just had one of its best days in years. The company rose over 59% in the early week after striking a deal with Amazon’s AWS cloud on an intelligent data platform for vehicles. The deal between $AMZN and $BB would focus on helping automakers understand and utilize the sensor data collected from vehicles.
Several cybersecurity cloud platforms rallied in trading today. Crowdstrike ($CRWD) ran up over 13% and Zscaler rallied over 26%. $ZS reported earnings from a strong quarter, while also reiterated a robust outlook for the quarter ahead. $ZS is mainly a cybersecurity company which has benefited a large volume of companies in need of security solutions for broad technical operations. It had the third-best performance among U.S tech stocks this year right behind Zoom ($ZM) and Fastly ($FSLY).
One of the biggest IPOs of the year was Snowflake, which captured investing interest from Berkshire Hathaway and Salesforce. Many wondered if both companies overpaid to get a piece of the pie, but there might be enough to go around. Shares of $SNOW popped over 16% after their first earnings report showed the company with 119% revenue growth in the trailing quarter. Though the company is still losing money, growth and cost-cutting could contribute to the company turning profits late next year.