Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks didn’t keep pace along the way.
BlackBerry’s Difficult Decade
One of the biggest market laggards of the decade was mobile phone maker and mobile security software company giant BlackBerry Ltd (NYSE: BB). It may seem like a century ago when BlackBerry was the U.S. market share leader in smartphones. But in fact, BlackBerry held a 40% share of the U.S. smartphone market in 2010.
At the beginning of the 2010s, BlackBerry (then called Research In Motion) was trading at around $67.54. The first year of the decade actually started off strong for BlackBerry. The stock rallied above $75 in the first quarter of 2010, a level that would ultimately end up being its high point of the 2010s. BlackBerry traded below $45 in mid-2011 and never looked back. By mid 2012, the iPhone’s market share gains had begun to look insurmountable for BlackBerry, and the stock dropped below $10 per share.
2020 And Beyond
After officially changing its name in 2013, BlackBerry continued to struggle with its pivot to mobile security. The stock ultimately hit its 2010s low of $4.86 in October of 2019.
BlackBerry investors didn’t enjoy 2010s, and $100 worth of BlackBerry stock in 2010 would be worth about $9.50 today.
Looking ahead, analysts expect BlackBerry may finally start to gain some ground in 2020. The average price target among the 13 analysts covering the stock is $7.20, suggesting 12.1% upside from current levels.