Research in Motion is broke(n), say brokerages
Reporters aren’t the only ones forecasting doom and gloom for Research in Motion—grave prophesies from several financial players drove down the company’s shares on Monday. The stock fell 5.2 per cent on the Nasdaq to $17.25 U.S., reflecting the unease of analysts from JPMorgan, RBC Capital Markets, Canaccord Genuity, JMP Securities and Credit Suisse. A few merciful players, including Goldman Sachs, did raise their ratings last week, recognizing that RIM’s beaten-and-bloody share value is sufficient proof of their woes. But it seems like the company could easily fall short of its third-quarter expectations—analysts estimate a profit of $1.21 per share on $5.32 billion in sales (which is barely within estimates). We’ll know on December 15 when the company reports the real figures. Read the entire story [Toronto Star] »
Funny how everybody is bashing rim but PLAYBOOK is sold out EVERYWHERE !!! They make a great Product
Too bad the Playbook will not have native email or calendar functionality until February 2012. It’s practically useless without these basic features. What’s taking so long? The writing is on the wall for RIM, unfortunately.
The Playbook has been at an intense discount this entire week. It’s down to 200 from over 6, no wonder it’s selling.
$200 is what these things (Apple’s ipad included) should cost. You’re buying a web browser!
All 16GB Playbooks sold out in canada and usa at all retail store..trying bying one today
I believe RIM needs to consolidate and do what it does best, produce products for business and professional users. It’s security features are second to none. Andriods and IPhones are fun devices , but they have security flaws. It need to rebuild it’s core business. The shares are ridiculously too low.
‘Broke’? Let’s see…$5.3B in quarterly sales, $3B in cash reserves in the bank, still profitable and adding millions of users around the world, even as it undergoes a massive platform transition and a full-on, U.S.-centric media assault. Wish I was ‘broke,’ too.
and they just pulled their sponsorship of TIFF says a RIM insider.