Oppenheimer has a note after conducting channel checks at R-I-M calling for another very solid quarter coming from the maker of the BlackBerry. Oppenheimer even went as far as to raise estimates for the company despite noting lower average selling prices and noting that the demand is there in its lower priced phones. The belief is that it is not taking away from earnings. The issue that Americans get hung up on is that the international growth is huge for R-I-M because of the rise of more and more businesses needing the real-time communications.
Also noted is higher demand for the new Curve and the Bold smartphones. Oppenheimer now believes that 11.4 million units were shipped out, which is above the prior range of 10.6 to 11.2 million shipped units.
This also flies right in the face of new research we covered yesterday showing that many Blackberry users may actually want an iPhone.
So far the move is not helping RIM as the stock is down 0.3% at $74.25. It is worth noting that RIM shares have not rallied in the last 5 days with the broader markets. The smartphone maker’s earnings are set for March 31, 2010, so we should know if Oppenheimer was right or whether it was throwing darts on the wall.
You can join our free daily email distribution list to hear more about key analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Top Gaining Stocks
Top Losing Stocks