The Stock Market Falls On RIM (RIMM)
Everything is fine at Research-In-Motion (RIMM). At least as far as anyone can tell. EPS is expected to be $.69 in the current quarter, up from $.33 a year ago. Sales are supposed to double. According to Thomson, the median…
Everything is fine at Research-In-Motion (RIMM). At least as far as anyone can tell. EPS is expected to be $.69 in the current quarter, up from $.33 a year ago. Sales are supposed to double. According to Thomson, the median price target Wall St. has on the stock is $140.
But, the shares in the company are down from 52-week high of over $137 to $85. Over the last three months, the shares have fallen more than Apple’s (AAPL).
There is some reason to believe that RIMM is better off than the Mac and iPod company. A lot of the sales for Blackberry products are to businesses. They are a cheap way for firms to give people a mobile communications device. Revenue for this kind of product may be absolutely fine.
The stock price says otherwise.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
