Support Our Site
Get Better Gear!
- Notability For iPad: Much More Than A Note Taking App from Ginger Labs, Inc, US$0.99
- Scosche’s RH656m Headphones With Microphone Are Wonderful from Scosche, US$129.99
- IPEVO’s Typi Folio Case & Keyboard for iPad is First-rate from IPEVO, US$79.99
- Scosche’s boomSTREAM BT Speaker: Features & Compromises from Scosche, US$99.95
- FX Photo Studio HD: iPad Painting of Effects Made Easy from MacPhun LLC, US1.99
Premier Sponsors
Top 5 Free Apps
iTunes New Music Releases
Top 5 Paid Apps
Discover New Music
- Chicago
For those of you who don't know, Chicago didn't always suck, and everyone in the band didn't always play a keyboard. When the band started off they were pioneers of rock and jazz fusion, and guita
- Alanis Morissette
- Ten years after the original release, comes the traditional celebratory acoustic re-recording. The album has held up remarkably well. While it is not as meaningful to me as it was when I was sixteen,
- Poe
Poe rocked my world with "Angry Johnny" (I want to kill you/I want to blow you/Away) and "Trigger Happy Jack" (Trigger Happy Jack/ You're gonna blow/But I'm gonna get off/Before you go), as powe
- Jesus Jones
When you think of Jesus Jones, chances are you can't remember them at all, or you vaguely remember "Right Here, Right Now" because it has been use
- Nine Inch Nails
In the sprawling post-A&R rock and roll world, there are two camps: the Beatles and the Stones. The Beatles are the artists that like to explore, evolve, and change styles. The Stones are the artis
Reader Specials
Visit Deals On The Web for the best deals on all consumer electronics, iPods, and more!
News
Analysts Downgrade RIMM, Stock Drops 25% on Friday
Thursday, September 25th, 2008 at 4:00 PM - by John Martellaro
Wall Street is not pleased with Research in Motion (RIMM), famous for their BlackBerry mobile phone, according to Jim Goldman with CNBC on Friday. Analyst downgrades on Friday were steep, strong and fast.
RIM reported that it has spent US$380 million in advertising, yet guidance was dismal and sales were less than hoped for. That led Cannacord Adams to reset its target for RIMM from $185 to $72.50, RBC from $165 to $90 and Credit Suisse from $100 to $80.
As a result, on Friday shares in RIMM dropped precipitously, from about US$100 on Thursday to under $75 on Friday.
 Source: eTrade |
|---|
"How did the Street, indeed so many of us, get this one wrong?" Mr. Goldman asked. "Simply, there’s been an almost irrational exuberance surrounding this can’t-do-wrong company. Metrics and channel checks seemed solid. Same with ongoing trends. Almost across the board among analyst research."
One of the problems is that no one knows how RIM will price their products. When the prices come in lower than expected, investors expect the company to miss its target. Apple, in contrast, doesn’t have that problem. The iPhone price doesn’t change until Steve Jobs says it will.
It’s not clear at this point whether RIM’s poor earnings report was due to the overall market or competition from Apple. More light will be shed on that when Apple issues its own earnings report in October.
Recent Headlines
- Reading, Writing, & Saving the World
- Free Retro Gaming for iOS - Activision’s Kaboom!
- Apple Adds Chomp Bits to iOS 6 App Store Discovery
- Notability For iPad: Much More Than A Note Taking App
- Scosche’s RH656m Headphones With Microphone Are Wonderful
- Tim Cook & Larry Page Reportedly Discuss Patents
- Analysis: Amazon Kindle Fire Sold Out, Kindle Fire 2 Pic Leaked
Post Your Comments