Matt Phillips blogs or The Wall Street Journal, “Tip of the cap to analysts covering Research in Motion over at Jefferies, who decided not to parse words while axing their rating on Research in Motion to ‘underperform’ from ‘buy.'”
After RIM’s guidance cut yesterday, Misek wrote:
We Were Wrong: QNX Too Late and Too Little; Downgrade to Underperform
In addition to lowered May Q guidance, our checks indicate RIMM will see continued execution issues, product delays, and lackluster product launches for the next year. We believe Blackberry OS 7.0 (renamed, formerly 6.1) and QNX will be delayed and that carriers are withdrawing support. We cut our [Fiscal year 2012 (Feb) EPS [estimate] to $5.50 (guidance $7.50), [fiscal year 2013 estimate] to $5 [(versus the street consensus of $7.37)], and [our price] target to $35.
Read more in the full article here.
MacDailyNews Take: DCW.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Edward W.” for the heads up.]
Related article:
Research In Motion warns of weak BlackBerry sales; shares plunge – April 29, 2011
Shadenfreude?
There always wrong.
Everyone should know by now; RIM is a dying breed as a (lack of) technology corporation, microsloth will follow behind in a few years time.
RIM, circling the toilet bowl since 2007.
Sent from my iPhone.
Their efforts to match Apple have certainly been crap. But let’s not be zealots and ignore reality – not everyone wants an iPhone. Go ahead and be pompous if you want (“they’re idiots not to want an iPhone because it’s so great”). But do so at the risk of looking like a foolish zealot.
DrDoucheTX and FormerlyBummedTX strikes back. Are you going for the record of how many times you can get banned?
No, my mission is to point out the moronic lengths some go to in being blind followers. Replies like yours makes my job so much easier. Enjoy the sand in which your head is firmly planted.
Don’t you have a seven figure income to attend to?
No, my money works for me, not the other way around. Kinda like those AAPL shares at $100. But thanks for asking.
Reformed… you are what you choose. i.e. the choices you make represent who you are. There’s nothing zealous in making intelligent conscientious choices when purchasing things. We buy Apple products not because of zealotry. We buy their products because they make good products. Idiots can go choose Android or other devices that are inferior to Apple product; that’s their choice. That’s what a free market is all about.
I see now, you obviously feel there is no way that you could choose iPhone and have anyone else in the world make an informed and intelligent decision to do otherwise (lest they be “idiots”, to use your words). I didn’t realize that you held the ultimate say so on what everyone should want. Must be nice to rule the world.
If you use the absolute best equipment available and you see someone working on a Dell, you do wonder about their intelligence.
It’s only natural.
^^ RE: Reformed… it’s common sense. Compare the products out there and the only rational choice when it comes to making a smartphone purchase is Apple. If you choose a non-Apple alternative, you’ll end up with an idiotphone.
Common sense dictates that iPhone has the best ecosystem, operating system and hardware, not me. Please do your research before embarrassing yourself like this.
^ RE: althegeo… +1
ReformedTX – correctu most likely is a relatively new Mac user, who is enjoying the benefits of utilizing a great operating system on her devices for the first time in her life, and is obviously feeling smug, and a little superior. But she does not speak for the vast majority of Mac users, who would never resort to calling others ‘idiots’ for choosing a platform they prefer. That’s just not how we roll.
Hey, if a certain platform works for you, that’s all that matters. I may feel that I am using a better platform, and numbers may indicate that as well, but as long as you’re happy, so be it. Who am I to judge?
As for Rim, a company that revolutionized consistent, secure, business communications in a similar way that Apple has revolutionized, no – make that entirely re-defined, the smartphone industry, I would expect their next steps, if they continue to slide, would be to license their proprietary systems for use on any device. This was something they had talked about way back when I was using a Pocket PC. It never came to fruition, but certainly they must be considering it at this point.
I am not so sure that statement is true. I am sure Creative, Microsoft, LG, Sony, whoever probably thought that about the iPod as well. We can see how that turned out.
Tablets, phones, PC’s are no longer following the pattern of the past. Cheapest doesn’t necessary win, nor does cobbled together platforms with little to no support moving forward.
Used to be that a company could survive a few lackluster but OK products in the 1990s.
What with information more easily available than ever on smartphones, people have become smarter about what they buy.
Some CEOs don’t seem to get it that if you are going to play in the big leagues, you MUST perform on time up to snuff with the products customers want now.
They relied on their near monopoly with their BES entrenched in the business world. Riding piggy back with MS on their FUD campaign through IT/CIO MS bend over may I have some more army of drones.
ANALysts admitting they were wrong? What’s next? Fire and brimstone coming down from the skies? Rivers and seas boiling? Forty years of darkness? The dead rising from the grave? Human sacrifice, dogs and cats living together… mass hysteria?
Ghostbusters called. They want their line back.
I think he was intending to quote Ghostbusters.
Amateur hour is over indeed.
I saw that ad (the playbook one with ‘amateur hour is over’ on it) and nearly shot my coffee all over the screen laughing!
Like in Top Gun, RIM is getting caught in Apple’s jetwash. Time to eject! Their goose is cooked.
“Their goose is cooked.”
Hey, there’s a bold new direction for RIM. They can become a COOKWARE company!
Yeah! Saved!
haha…MDN successfully created the nickname for RIM…DCW….
Just wait for WP7 to take over RIM’s place and then eventually surpass Apple and Android. It will be a beautiful day when that happens because you Apple fanboys will be eating the dust of Microsoft and Nokia!
Is this the real ZuneTang? I see no copyright trademark nor avatar. If this ISN’T ZuneTang:
You ain’t playing with a full deck! I think someone blew your pilot light out! You’ve got splinters in the windmills of your mind! You’re playing hockey with a warped puck!
If if IS ZT:
Nice to see ya bud!
“ust wait for WP7 to take over RIM’s place and then eventually surpass Apple”.
That would be a copy of Windows. Windows could only have done that when there were only 2 players and MS garnered OEM deals to place Windows single sourced OS software on ALL PCs except Macs.
I truly believe only integrated companies will be able to compete in the end consumer mass market items. W7 mobile is basically 3 years late and MS has had a bad run of software glitches that have pissed of a billion potential customers of smartphones. Can they make up for that? Anti-Trust would likely stop any MS-Nokia merger.
ZuneTang grasps for the straws in the Tang glass, and gets the straw but the glass is empty.
This article must be an error. Analysts are never wrong.
$35 price target is $35 too high. Misek will keep apologizing again and again until he gets it right and takes it all the way down to $0. RIM share holders or should I say bag holders, take the loss and get out now while you still can.
The Wall Streetgame of heads I win-tails you lose strikes again. The whole idea ofhuidance is forward looking intelligence do you can make sound judgements investing.
Not one of these geniuses was saying buy when I bought 100 shares if Apple for about $1,000 back in 2001- now 200 after the split @ $90. Those shares alone would buy me a nice car with that single investment worth north of $70,000.
I invest and do better doing my own homework.
Sometimes it’s better to concentrate on your core strengths and refrain from branching into new markets, “just because”.
Instead of needlessly jumping on the tablet bandwagon, they should’ve expanded their BES system to other mobile platforms as Microsoft has with its ActiveSync technology. The enterprise is still an extremely stable market due to their resistance to change.
Like Apple did over ten years ago, RIM may need to pull back and concentrate on what it does best and improve that to remain relevant to its
… to remain relevant to it’s customers.
Sorry, accidentally hit the publish button prematurely.
I have a solution: bring-in a former MSFT-exec as new CEO.
It worked for Nokia – so what could possibly go wrong?
it is often very difficult for companies to change their businesses. RIM’s core competency is secure email on portable devices. Maybe they thought they were a manufacturer instead.
It’s too late now but they might have been better served cutting back on making handsets and instead finding out how to port their secure email service to iPhones and Droids and Nokias. They could have been on every business phone, regardless of make, and still be getting their monthly fee. Instead they tied themselves to their own hardware and are sinking with it.
I suppose for Rim of crackberry fame, to make an email app for iOS and other devices, instead of making their own products, would be a real ego blow. In retrospect it may have been a good choice.
It would be a similar choice for an actor who has been a star for years, accepting a supporting role in a film.