Blackberry shares soared after the company beat analysts earnings forecasts. John Chen, CEO of Blackberry, joined us to break down the results.
Blackberry's results were boosted by an increase in business software sales and licensing revenue. Chen says Blackberry has 2 major focuses. The first is the enterprise software business and the other is the auto sector. Blackberry has been in the auto business for 8-10 years, but made a bigger push about 4 years ago, he points out.
Chen says there are 60 million cars on the roads using blackberry software. Looking forward, the company is working on designing new components such as lane-changing and communication capabilities with other cars and infrastructure. He sees a huge opportunity in the space, emphasizing that about 100 million cars are made every year.
Apple is on the verge of becoming the world's first-ever $3 trillion company as shares of the iPhone maker are inching closer to $182.86. Joel Hawthorne, head trader and CEO of The Morning Snapshot, joined Cheddar to discuss Apple's success and how the tech giant will continue to innovate. "One thing that we have to keep in mind is this stock somewhat moves like its own ETF," he said, describing the company as almost a "safe bet" for long-term investors.
Gabe Pincus, president of the investment advisor GA Pincus Funds, joined Wake Up With Cheddar to break down what's happening with meme stocks, as retail trader favorites AMC, GameStop, and Bed Bath & Beyond all moved sharply lower on Monday. He noted that even with the drop there is still room for the meme stocks to tumble even more. "They're still up 500 percent, 800 percent, 900 percent from their all-time lows, so there's plenty more room for them to go down," said Pincus.
While people have been spending more time on their phones throughout the pandemic, a new report shows they were also spending more money as well. A review from Sensor Tower on the global app ecosystem this year found that the app economy will see record consumer spending in 2021, up nearly 20% from 2020. Sensor Tower director of sales and financial institutions Anthony Bartolacci joins Cheddar News' Closing Bell to break down the report.
The future of gambling in Florida recently suffered a major setback after a federal appeals court rejected a request from the state and the Seminole Tribe to allow online sports betting in the state. Now, the tribe has been forced to stop taking bets on its Hard Rock sportsbook app. ESPN gaming writer David Purdum joins Cheddar News' Closing Bell to discuss what this could mean for the future of sports betting in Florida.
