Research In Motion is in the right place but at the wrong time. It's high-end ... Smartphone News forum
Analyst cuts forecast for BlackBerry maker
Research In Motion is in the right place but at the wrong time. It's high-end handsets are what the people want, but they don't want them now.
Shares of Research In Motion Ltd., the maker of the BlackBerry phones, fell Tuesday to their lowest levels since 2006 after a J.P. Morgan analyst cut his earnings forecasts due to the global economic crunch.
The stock fell $2.48, or 6.2 percent, to close at $37.32. Earlier, it went as low as $35.76. As late as June, the stock hit $148.13.
J.P. Morgan analyst Paul Coster kept his earnings estimate of 86 cents per share for the fiscal third quarter, which just ended, but lowered his estimate for the quarter ending in February by 2 cents to 83 cents per share.
For the next fiscal year, which starts in March, he lowered his earnings estimate by 15 cents to $4 per share.
Coster still expects the Waterloo, Ontario, company to grow its sales volumes significantly throughout the downturn. Other analysts have noted that "smart" phones like BlackBerrys and Apple Inc.'s iPhone have been doing relatively well even as the overall cell phone market is starting to shrink.
RIM is "benefiting from massive sell-in of a new product portfolio, set against a significant slowdown in consumer and enterprise demand for handsets," Coster wrote.
He kept an "Overweight" rating on RIM's stock, saying it is undervalued even considering the reduced forecast.
RIM is set to report its fiscal third-quarter results on Dec. 18.
Buy Low and Sell High!!!!
Lol I would have to agree with you on this one. Had 2000 shares sold them at 120 each bought it at 87 a share. Not bad. Thank god I sold them when I did lol. Already got burned by nortel back in the day! ~via BB (wap.pinstack.com)~
It's almost impossible to predict what this market is going to do. You can become rich buying and selling at the right time... or you could loose a lot of money! Everything is at such a high risk.
I've heard that the tech stocks aren't looking so good right now.
It's going down IMO - for quite a while. Be careful trying to time buying and selling. As you said, you could lose a LOT of money if your timing is off.
Originally Posted by RCode
For every complex problem there is a solution, that is simple, neat, .....and wrong! (H. L. Mencken) jblackfish(at)pinstack(dot)com
IMO; the Tech stocks are the one's balancing this economic stress, even though they are very high risk given the circumstances...
Good info. Thanks Hayden. Maybe time to pickup some shares.
I was just thinking that same thing. They may still go down a bit, but they ARE going to eventually go back up again.
Originally Posted by Threekings
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