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    RIMM Hammered

    By Stock Charts | September 26, 2008

    RIMM was hammered today after earnings guidance failed to appease wall street. 2Q earnings were up 72%, but failed to meet analyst expectations. Research in Motion is gearing up to launch a new product, Blackberry Bold in overseas markets and eventually in the United States, which is eating in short term profits.

    I sold my shares of RIMM a few weeks ago, and luckily avoided the knife. I feel that RIMM will face stiff competition from the iPhone in the consumer space, and possibly even Google’s new android phone. I’d expect a bit of a bounce depending on the market, but in the middle to long run the Blackberry may face some rougher waters.

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    Topics: Stock Charts | 1 Comment »

    One Response to “RIMM Hammered”

    1. thepiggybanker Says:
      October 3rd, 2008 at 1:30 pm

      I wasn’t quite as lucky..