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Report: BlackBerry will be threatened by iPhone
Needham & Co. analyst Charlie Wolf cut his rating on Research in Motion's stock to an underperform from a previous rating of hold because he believes the company's strength in the consumer market "is bound to come under siege because of the iPhone." Wolf added that until the launch of Apple's new iPhone, much of RIM's BlackBerry success was due to a lack of compelling rivals in the consumer space. He added that much of RIM's recent gains have come from the consumer market. The introduction of the BlackBerry Pearl has helped the firm but now Wolf says that the "days of no competition are over."
RIM is trying to fight back against the iPhone by launching new models such as the BlackBerry Bold and the upcoming BlackBerry Thunder. Nevertheless, Wolf lowered his 2008 earnings estimate for RIM to $3.70 per share from $4.05 per share and reduced his 2009 outlook to a profit of $4.80 a share from $6.25 a share.
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Posted by Anonymous | July 17, 2008 - 11:11am
July 17, 2008, 10:38 am
RIMM: Canaccord Ups Ests; Sees No iPhone Impact
Posted by Eric Savitz
Canaccord Adams analyst Peter Misek late yesterday raised his revenue and EPS estimates for Research In Motion’s (RIMM) fiscal Q2 ending in August. Misek says checks with the company’s carrier partners find that device shipments and activations are running about 20%-30% ahead of plan for June and July through the 14th for all carriers. He says the company was up 20% in June from May at AT&T (T), and in July should be flat to up 5% despite the arrival of the AT&T-powered Apple (AAPL) iPhone. “Blackberry sales have seen no adverse impact from the recent iPhone 3G launch,†he says.
Misek upped his Q2 revenue estimate to $2.67 billion from $2.62 billion; EPS goes to 92 cents form 89 cents. He now sees shipments of 6.25 million units, up from 6.1 million, and net new subs of 2.7 million, up from 2.6 million.
Misek maintains his Buy rating and $225 target on the stock.
Posted by Anonymous | July 17, 2008 - 6:18pm
No Competition? What do you call all the windows mobile smart phones on the market?
