Apple Makes More Money in a Weekend Than BlackBerry is Worth in Total

Posted by Knowlton Thomas

Comparing Apples to BlackBerrys is apt to leave a sour taste in the mouths of Canadians today.

Waving a white flag, former smartphone pioneer BlackBerry agreed this morning to be acquired for $4.7 billion by a consortium of investors led by Prem Watsa's Fairfax Financial, which already owns 10% of the company.

The deal isn't done—due dilligence must come first, and Fairfax is still allowed to back out—but that doesn't change the fact that BlackBerry is allowing itself to sell for less than $5 billion.

At $5 billion, the company is selling itself for $9 per share. That's a slight premium over its current trade value—just over $8—but a far cry from $140, which it was trading at in 2008. Back then, the company was worth well over $80 billion. As recently as 2009, the market value of Apple was as litle as $77 billion. Now one is worth $5 billion and one is worth $450 billion.

For even more grim perspective, Apple earned over $5 billion this past weekend from iPhone sales alone, more than the total value of BlackBerry including its cash horde and patents—and remember, that figure is excluding revenues from Apple's other products such as the iPad and MacBook lineups.

Granted, it was the opening weekend for iPhone 5S and 5C sales; Apple's three-day revenue is normally lower. Still, it goes to show the two wildly different paths the two tech titans have taken since 2009.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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