“More happy talk Research in Motion, this time from Citigroup analysts, who have a note out today entitled, ‘It’s Worse Than You Think, RIMM is Going to Miss Christmas & More; Reiterate Sell,'” Matt Phillips reports for The Wall Street Journal.
We do not believe RIMM is an acquisition target or the company is looking to break itself up for sale… We are lowering our target price from $20 to $15 and reiterate our Sell rating. Target price is based on revised earnings and a 50% discount to the current S&P500 P/E; this is lower than our previous 40% discount, but justified in our view given deteriorating fundamentals. Lower units are key driver of reduced EPS.
Read more in the full article here.
[Thanks to MacDailyNews Reader “GetMeOnTop” for the heads up.]
The only thing RIM has to sell is customer lists (dwindling rapidly) and a nice building in Canada. Other than that, nobody wants what RIM has.
What? No one wants those chicklet key manufacturing plants??
Long before it was purchased by RIM, QNX was a great operating system for realtime applications.
Hopefully that will survive and come to belong to someone who can keep it going.
I almost feel sorry for them.
I would feel sorry for RIM if they had not brazenly attempted to ride on Apple’s tablet coattails, and had they not derided Apple with the “superior FLASH browser experience” advertising, and “Amateur Hour Is Over” nonsense.
I feel that if RIM had never released, nor even talked about releasing, a tablet, and had just worked on steadily improving their BlackBerry products, RIM would be in a very good position right now.
Instead, RIM invited comparison to Apple.
– And we all know how that invariably turns out.
Half of them are stupid, the other half are drunk…I love the “deteriorating fundamentals” line.
Their patents are still worth something. But after webos, it seems clear that you have to offer more than just an OS to compete now. You need an ecosystem strategy.
If they are not planning of selling themselves, I think they need to downsize themselves to a much smaller company that releases one new great phone a year and make the best business phones in the world. At the moment they will only survive as a niche market player.
They’re dead.
Three letters: DCW
Dead Dead Dead. Rim is another dinosaur tech company, that has not been agile enough to survive, and its CEOs are out of touch with comsumers and business people
Which begs the followup question: so how’s Citi doing these days?
This just in …
Chicklets Gum is releasing an all new flavor and shape!
Blackberry!
Little black gum drops with white alphabets that have a stinging taste of imminent failure.
The question that should be raised is why the board still hasn’t replaced RIM’s management.
How many ‘M’s in RIM??
RIM = ‘Research In Motion’ right?
i wonder if it would be a better investment to short rimm than to go long apple?