La Monica writes, “That brings us to Research in Motion.”
MacDailyNews Take: Ouch.
La Monica continues, “Shares of the BlackBerry smartphone maker have been crushed in the past few weeks, due largely to concerns that its hotly anticipated new Torch phone is not selling as well as hoped. Research in Motion shares have plunged more than 15% just this month and are barely above their 52-week low.”
“Investors are worried that tech consumers only have eyes for Apple and its iPhone, and to a lesser extent, some of the many smartphones that run on Google’s Android operating system, such as the HTC Evo and Motorola’s various Droid phones,” La Monica. “Possible bans of BlackBerry services by the United Arab Emirates, Saudi Arabia and India over security concerns may also be weighing on the stock.”
La Monica writes, “Some worry that there are eerie similarities between Research in Motion and Palm, the once-hot smartphone maker that failed to keep up with Apple, Research in Motion and others… Chris Bulkey, an analyst with Technology Research Group in Narberth, Pa., said Research in Motion could suffer the same fate. For now, the company’s sales and profits are still growing, but the pace is slowing. And without a hot product on the horizon, Bulkey, who has a ‘sell’ rating on the stock, said it’s hard to envision a bright future for Research in Motion.”
Full article here.
MacDailyNews Take: RIM is a dead company walking.
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