Research in Motion Ltd. (Nasdaq: RIMM), maker of the BlackBerry phone, traded sharply higher yesterday (Thursday) after Goldman Sachs analyst Simona Jankowski upgraded RIMM to a "Buy" with a price target of $16. RIM gained 4% Thursday to close at $11.54.
Although there are a growing number of bulls among analysts on the Street, there is still a large and vocal group of bears who think that RIM is done for.
Research in Motion is planning to launch its BlackBerry 10 smartphone on Jan. 30, 2013. The company is pinning its hopes of survival on the BlackBerry 10 taking a small piece of the smartphone market away from giants Apple Inc. (Nasdaq: AAPL) and Google Inc. (Nasdaq: GOOG), which split the smartphone market between their iOS and Android operating systems, respectively.
Goldman Sachs' Jankowski says that the BlackBerry 10 (BB10 in the terse to the point of being unintelligible analyst-speak) doesn't even have to be a success for RIMM shares to perform well.
"We now assess a 30 percent chance of success for BB10 given positive early reviews, broad-based carrier support, attractive features, and interest by carriers and consumers in broadening the field beyond Android/iOS," Jankowski wrote.
Other analysts are even more bullish.
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Is There Any Hope for Research in Motion (Nasdaq: RIMM) Stock?
Die hard BlackBerry fans are more worried than ever that Research in Motion (Nasdaq: RIMM) may soon meet its maker.
The recent declines in profit, sales and RIMM stock -- which has plummeted 51% in the past six months -- has sparked mounting anxieties that the end for Research in Motion is imminent.
Speaking to these fears, RIM's new Chief Executive Officer, Thorsten Heins, vowed yesterday (Tuesday) that he will lead a turnaround for the beleaguered company, starting with a successful 2013 launch of its next-generation BlackBerry 10 phones.
Like a preacher on a pulpit, Heins maintained in an address to besieged shareholders that he would convert RIM into a "lean, mean, hunting machine."
"I have assembled a leadership team for RIM that's truly capable of taking us into the future," Heins promised.
BlackBerry fanatics, who helped coin the catch phrase "CrackBerry" to refer to their "addiction" to the iconic mobile phones, are pleading for RIM to make it - but it may be too late.
"If RIM continues to be run as it is, we believe that the company will eventually fail," wrote Nomura analyst Stuart Jeffrey in a June note to clients.
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Price Wars Likely to Spur Smartphone Explosion in 2010
Are you one of those holdouts who hasn't yet jumped into the high-tech world of smartphones? Well get ready, because the mobile-phone makers of the world are about to make you an offer that will be very difficult to refuse.
This may be the year when cheap prices finally drag millions of behind-the-curve consumers into the blossoming smartphone market, unleashing unprecedented strains on broadband networks as handset makers wage a price war in the midst of booming demand.
"The smartphone market will become ultra competitive in 2010," analyst Neil Mawston from Strategy Analytics told Reuters.
More than 1 billion mobile devices will access the Internet in the New Year, research firm International Data Corp. (NYSE: IDC) says. That's catching up to the 1.3 billion users that use a PC to go online, and the rate of growth for mobile users is 2.5 times the growth rate for PC use.
Research In Motion Shares Nosedive After Missed Sales, Earnings
Shares of BlackBerry maker Research In Motion Ltd. (Nasdaq: RIMM) plummeted in after hours trading yesterday (Thursday) after the company missed Wall Street’s earnings and sales expectations. For its second quarter ended August 29, RIM reported net income of $475.6 million, or 83 cents per share on revenue of $3.53 billion. That compares to a net [...]
Hot Stocks: Motorola Throws Hat Into Smartphone Ring
Motorola Inc. (NYSE: MOT) last Thursday charmed investors when it revealed its Cliq smartphone, which will compete head on with Apple Inc.'s (Nasdaq: AAPL) iPhone and Research in Motion Ltd.'s Blackberry. Motorola's stock is up nearly 12% since the announcement, as investors are hoping the new phone will be enough to win back some of [...]