BlackBerry (BB) automotive software business momentum

What happened: BlackBerry (BB) has completed its turnaround and is now a 'growth company', according to its CFO Tim Foote. The company, once known for its smartphones, has shifted its focus to software, particularly in the automotive sector. Investors are taking notice, with the stock surging due to the potential of its software business.

Market impact: The automotive software market is poised for growth, driven by increasing demand for connected cars and autonomous driving technologies. BlackBerry's QNX software, used in over 150 million vehicles worldwide, positions it well to capitalize on this trend. This narrative could impact other automotive software providers like Aptiv (APTV) and Magna International (MGA).

What to watch next: BlackBerry's Q4 2022 earnings on December 16, 2022, will provide insights into the growth trajectory of its automotive software business. Additionally, the Consumer Electronics Show (CES) in January 2023 could offer updates on BlackBerry's automotive partnerships and product roadmap.