Monday, March 29, 2010
Research In Motion (RIMM) Update
As Research In Motion approaches earning this Wednesday, news that Apple (AAPL) will launch an iPhone this summer and also is working on a model compatible with Verizon Wireless' (VZ) CDMA architecture, said a published report citing sources. Apple and Verizon rose late. Research In Motion (RIMM) and AT&T (T) fell.>>Read
Should be an interesting next few days, lets not forget that RIMM is big in China, not to mention PALM has lost its stride. RIMM is in their niche business enterprise segment, Apple is seen more as a consumer product. Looks like the three horsemen will be Research in Motion, Apple & Android.
Despite intense competition in the smartphone market, Research In Motion Ltd. is expected to maintain its strong pace of double-digit earnings growth when it reports results for its fourth fiscal quarter this week. >>Read
This past Friday, JP Morgan upgraded Research in Motion Limited to “overweight” (basically a buy) from “neutral” (basically a hold). Analysts expressed bullishness toward the smartphone sector, saying 2010 “will be the first year for true mass-market adoption of mobile computers.” This trend could bode well for RIMM, parent of the BlackBerry device. The banking giant also adjusted its 12-month price target on RIMM by 20% to $84 from $70.
Over the last several months Itz has repeatedly pointed out the bargain valuation that RIMM has presented.
RIMM will report earnings on Wednesday after the close, and analysts estimate per-share results of $1.28.
Suggest using any pullback to buy or add. Jan. 26, 2010 post...READ March 23, 2010 post....READ
From CNBC: Peter Misek of Canaccord Adams tells Fast Money that according to his sources Apple is about to ink a deal with Verizon; confirming a published report.