Earnings tomorrow at the close and we tank first thing in the morning. I thought I was in nice with a buy at yesterdays close.
There are VERY high expectations for RIMM this quarter. Whether or not they will blow them away again is anybody's guess, but I would not buy RIMM before tomorrow's earnings. It's simply too risky of a play. If they beat, then the stock will soar, but if they miss (or even meet in my opinon), the stock will see some major sell offs. Good luck to you, I got out a while back @ $75.
its been overbought for a while and maybe people wanted to take profits before the uncertainty of earnings come out. i attached a daily chart.
Just checked their Blackberry Storm. Boy, what a complicated device !!! "Press and be impressed" is their slogan for the product ! Forget it ! Took me 5 minutes to text a simple message with their "SurePress⢠touch" technology... Thumb down !
the iphone clones will never make sense. stick with the original idea and will be fine. all the rest is worthless crap.
I disagree, there is always demand for alternative products. In regards to typing, there is a learning curve for every touch screen, if not every keyboard. If you spent more than 15 minutes trying it out, you might have actually been more accustomed to it... Every first generation product has bugs, and RIMM is a solid company with great customer service/product development, so I have no doubt that they will improve the product and keep a solid market share in touch screen phones. In regards to the stock itself though, I doubt that my previous statements will have any effect on the price. It is all dependent on earnings, and I agree with everyone's analysis in that regard.
I would argue that the iPhone is a clone of the Blackberry actually. I actually like RIMM's products very much and am bullish on this stock long term due to their dominance in the corporate world. I just simply don't want to own this stock going into earnings because I think it's too risky given the high expectations. If the stock gets hammered after earnings I might scale in, especially under $70. That being said, they are facing increasing competition not only from Apple but from Palm, Nokia etc. in this market so it's important to keep a close eye on market share.
For those of you that pay attention to fibs... RIMM was right at weekly, AND monthly fib levels, hence the sell off. Expect price to come down to the green support fib lines. Even if RIMM does blow out earnings, it will have to come down to support some time. dont be a noob and buy at over-priced levels. I'd be too scared to hold rimm before earnings but hey.