“Wedbush Securities analyst Scott Sutherland, who this morning raised his outlook for Apple’s (AAPL) iPhone and iPad sales, this morning went the opposite way with Research in Motion (RIMM), cutting his price target to $49 from $55, while reiterating a Neutral rating on RIMM shares, on diminished expectations for the PlayBook tablet computer and a lackluster outlook for the BlackBerry,” Tiernan Ray reports for Barron’s.
MacDailyNews Take: RIM’s dim, so RIM dims.
“Sutherland writes that based on his ‘checks,’ the PlayBook may sell only 450,000 units in the quarter ending this month (fiscal Q1), causing him to cut his revenue estimate to $5.1 billion from $5.2 billion, and cut his EPS by a penny to $1.36, still above the consensus $1.33,” Ray reports. “For the full fiscal year ending next February, he now expects just 2.3 million PlayBooks to be sold, down from a prior estimate of 3 million.”
Ray reports, “The PlayBook is probably outselling Motorola Mobility’s (MMI) ‘Xoom’ tablet, he thinks, but the small screen size and ‘lack of appeal will limit consumer adoption,’ he thinks.”
Read more in the full article here.
MacDailyNews Take: Garbage tablet sales figures for both Motorola and DCW Research In Motion. We pity the end users who get stuck with these soon-to-be-orphaned, half-assed slabs o’ crap. Companies that treat their customers as gullible, disposable guinea pigs deserve to go belly up.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]