RIMM getting spanked and whipped

Discussion in 'Stocks' started by NY_HOOD, Sep 25, 2008.

  1. only problem is that RIMM ai'nt enjoying it. seriously,its down over 18 points in the after hours. miss and guided lower.not the kind of market to do that. the ceo should of lied.
  2. aresky


    No suprise!

    NEW YORK, Jun 27, 2008 (Thomson Financial via COMTEX) -- RIMM | -- Shares of Research in Motion fell in premarket trading Friday after Credit Suisse initiated coverage of the wireless communications company with an underperform rating.

    Garcha believes Research in Motion's earnings momentum will slow over the next 12 months because of market share loss in North America and gross margin pressure.

    Garcha expects fiscal 2009 earnings of $3.56 a share and fiscal 2010 earnings of $4.54 a share, compared with the mean estimate of analysts surveyed by Thomson Reuters for 2009 earnings of $3.82 a share and 2010 earnings of $5.41 a share.

    http://www.tradingmarkets.com/.site/news/Stock News/1719467/

    August 1, 2008

    Garcha revisited his call today. And as it happens, he still thinks FY 2010 estimates are too high, and he repeated his Underperform rating on the stock. Garcha says that RIMM’s share of the smartphone market at AT&T, which has been about 70%, is unsustainable given AT&T’s commitment to Apple. He says that while the company continues to ramp at Verizon, where he expects RIMM to exit calendar Q4 at 55% share, up from 32% in Q1, it will not make up for what it loses at AT&T. He also repeated his view that as RIMM’s product mix skews more towards consumers, there will be more pressure on ASPs and gross margins: he sees ASPs dropping 11% in FY 2010, with a gross margin decline to 47.6% form 49.7% in ‘09.


    July 16, 2008 8:34 AM EDT

    Needham & Co. downgrades Research In Motion (Nasdaq: RIMM) from Hold to Underperform.