RIM Shares Surge Ahead of BB10 Launch
November 25, 2012 6:22 PM
comment(s) - last by
As of Thursday, RIM shares rose 17.3 percent in Toronto
While Research In Motion (RIM) has had a tough time keeping up with the likes of Apple and Google when it comes to smartphone software, the company seems to be having an easier time ramping up enthusiasm for its upcoming operating system and devices,
RIM shares spiked last week after Kris Thompson, a National Bank analyst, increased his price target on RIM shares from $12 to $15. This came shortly after Peter Misek, a Jefferies & Co. analyst, raised his rating and price target earlier in the week.
Why did Thompson raise his price target? Mainly because of the upcoming launch of BB10, which will be introduced on January 30, 2013.
"The new management team is executing by maintaining the BlackBerry subscriber base, managing costs and cash, and seemingly readying a February 2013 BB10 global platform launch," said Thompson.
As of Thursday, RIM shares rose 17.3 percent in Toronto. This was the largest percentage gain since April 2009.
This is great news for a company that seems to have had nothing but bad news over the last year or so. For four days in October 2011, BlackBerry users from around the world completely lost their messaging, browsing and email services. These three features are key to any business (or consumer) user, and proved to be a huge mark on RIM's record. RIM blamed the service troubles on an extremely critical network failure during
a system upgrade
Since then, RIM co-CEOs Jim Balsillie and Mike Lazaridis stepped down and named the new CEO Thorsten Heins.
Several companies and government agencies, which were the main users of BlackBerry devices, have dropped their BlackBerrys for iPhones and Android-powered devices. The Transportation Security Administration (TSA) ditched their BlackBerrys in May in favor of iPhones, Immigration and Customs Enforcement followed suit in September.
In October, the Defense Department left its BlackBerrys behind and chose to go with Android and Apple devices instead. Most recently, the National Transportation Safety Board (NTSB) announced that it is
dropping its BlackBerry smartphones
for a new fleet of iPhone 5s.
This article is over a month old, voting and posting comments is disabled
RE: Mick and retrotroll start to feel the heat now
11/26/2012 8:55:05 AM
Okay, I lived in Waterloo for 20 years, and RIM is a huge part of the economy there, but to critique them doesn't make one a troll. They've not kept up, simple as that. Do I hope that this release will do that? Of course I do, MY work is affected by the success of RIM, as is the work of a good friend of mine who is a financial analyst who works for RIM. (yes, she has a RIM job, the joke's so old it's stupid)
I think its fair for some people to give reasonable critique (which does include "BB sucks") of RIM for what they've been NOT doing for what, 3 years now? They're supposed to be innovative, not just treading water. I do agree that the hate can go a little bit too far, but that applies to every company, esp on this website, which sometimes seems like a gathering for the Tea Party.
RE: Mick and retrotroll start to feel the heat now
11/26/2012 10:01:31 AM
Exactly and thank you...
Any critique of RIM has simply been out of disappointment. They once dominated the industry and for the past 6 years have been asleep at the wheels. There should really be 5 major players in the mobile front and there are only 2. Palm and MS floundered, but they were never the largest and they do have competitive offerings (Palm had Web OS in 2009 and MS has WP7 in 2010). Those 2 have thier own issues and reasons what went wrong... RIM wen from first to worst and still has no modern smartphone OS on the market
3 full years
after getting in bed with QNX, an already good OS (which as done 2 years late as it was).
"The Space Elevator will be built about 50 years after everyone stops laughing" -- Sir Arthur C. Clarke
RIM CEO Says BB10 Will Bring Order to "Universe in Disarray"
November 15, 2012, 1:29 PM
RIM Blames BlackBerry Outages on System Upgrade
February 13, 2008, 4:13 PM
Moto 360 to go "Champagne Gold" for $299, According to Amazon Listing
October 30, 2014, 3:24 PM
Call-capable Samsung Gear S Smartwatch Launches Nov 7 in U.S.
October 30, 2014, 12:45 PM
Lenovo Completes $2.91B Acquisition of Motorola
October 30, 2014, 11:57 AM
Samsung Electronics Q3 Profit Falls by 60%, Mobile Division Sees 74% Profit Decline
October 30, 2014, 10:10 AM
Microsoft's $199 Fitness Band Packs in 10 Sensors, Works with Windows Phone, iOS, and Android
October 30, 2014, 8:58 AM
Google’s Project Ara Modular "LEGO" Smartphone Shown Booting Up on Video
October 29, 2014, 5:28 PM
Most Popular Articles
Amid Theater Boycott Netflix Defiantly Plans New Movies, Plus 3 TV Shows for 2015
October 24, 2014, 7:30 PM
AT&T Defeats Purpose of New Apple SIM, Locks iPad Air 2 SIMs to Its Network
October 24, 2014, 2:17 PM
CVS, Rite Aid Kill Unofficial Apple Pay Support, Burn Google Wallet Users in the Process
October 25, 2014, 5:26 PM
1 Million Credit Card Activated on Apple Pay Within 72 Hours, Walmart CEO Hopes Visa "Suffers"
October 28, 2014, 8:17 AM
Microsoft's Figures Show Desktop Users Flocking to Windows 10 Preview
October 27, 2014, 11:04 AM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information