BlackBerry rated Hold ahead of Q1 2027 report amid growth in QNX and Secure Communications.

BlackBerry Limited is rated as a Hold before its fiscal Q1 2027 earnings report, with recent share gains driven by optimism in its QNX and GEM business segments. The QNX segment is growing at 14% with a $950 million backlog, supporting future revenue, while Secure Communications also remains a key growth area. Cost restructuring, including the sale of Cylance, has improved profitability with eight consecutive quarters of rising GAAP net income. However, challenges like weakness in the automotive sector and high expectations for GEM create valuation risks, leading to a cautious near-term outlook for BlackBerry shares.