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).
"My sex life is pretty good" -- Steve Jobs' random musings during the 2010 D8 conference
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
New Reversible "Type-C" USB Plug Coming in Mid-2014
December 4, 2013, 10:38 AM
IDC Reports PC Shipments Will Decline by Double Digits in 2013
December 4, 2013, 10:18 AM
Canon EOS M2 Digital Camera Unveiled In Japan
December 3, 2013, 11:10 AM
Applebee's to Place Tablets at Each Table for Paying the Check, Ordering Food
December 3, 2013, 10:01 AM
Quick Note: Sony PS4 Sells 2.1 Million Units
December 3, 2013, 8:16 AM
UK iPhone Sales Show 5S Preference by Three-to-One Over 5C
December 2, 2013, 10:55 AM
Most Popular Articles
NSA Snares Americans' Porn Viewing Histories in Effort to Target Muslims
December 1, 2013, 9:00 PM
Coalition of 20+ Tech Firms Backs MRAM as Potential DRAM, NAND Replacement
November 29, 2013, 11:59 PM
Fed Up With Cheating OEMs, Microsoft Trolls Chromebooks in New Ad
November 27, 2013, 4:09 PM
Xbox? PCs? Mobile? Microsoft Wants One Windows to Rule Them All
November 25, 2013, 8:21 PM
Seattle Restaurant Bans Google Glass, Tells Wearers to "Just shut up and get out"
November 27, 2013, 10:27 AM
Latest Blog Posts
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
U.S. Army Developing Cyber, Electronic War Arsenal
Oct 31, 2013, 4:49 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information