Time to Get Long RIMM again
Back on April 11th, I recommended selling RIMM into its earnings as a result of its 6 month winning streak. It is my experience that stocks that have such huge runs usually sell off following earnings unless they provide extraordinarily higher than expected guidance. After a 10% pull back, I think its time to get long this stock again. With its lawsuits behind it, RIMM can start focusing on its core business and with Palm (PALM) in doldrums, RIMM will be (as it has been in the past), the only dominant force in the business smart phone market.
– Faisal Laljee
Full Disclosure: I do not own any RIMM or PALM but my position might change anytime without notice. I do own a Palm Treo 700p and have owned a Treo for the last 4 years.
I dont know about recommending RIMM right here. I think long positions are going to be in for trouble pre and post iphone release.
Just my 2 cents,
-Sam from MarketMatador.com
Sam – I believe iPhone will be a big hit. It will be the next iPod for cell phones. But I believe we are looking at two different products. Blackberrys have the business market covered. Their push email technology is what PALM has not been able to compete with. I think RIMM will not be affected by iPhone, which will be consumer focused like all AAPL products.
– Faisal Laljee