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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