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: The huge manatee
11/26/2012 10:38:23 AM
iOS and Android are still far behind the Blackberry in security and in fact will never catch up. I own an Android phone and a BB since I manage the Exchange and BES servers. In a way they never really have to catch up since the new Blackberry devices are reverting and losing most of what they were great for and now going mostly ActiveSync.
"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)
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
AT&T Will Also Receive the HTC One (M8) for Windows
August 19, 2014, 9:27 PM
Sharp's "Edge-to-Edge" AQUOS Crystal Smartphone Coming to Sprint for $239 Off-Contract
August 19, 2014, 7:31 PM
After 34 Years With Microsoft, Steve Ballmer Parts Way to Focus on LA Clippers
August 19, 2014, 4:17 PM
HTC One (M8) for Windows Officially Announced for Verizon Wireless
August 19, 2014, 12:15 PM
Quick Note: ASUS Readies Smartwatch for IFA 2014, Shows Teaser Image
August 19, 2014, 9:30 AM
LG Already Gearing Up for G Watch Sequel Next Month
August 19, 2014, 7:54 AM
Most Popular Articles
Lumia 830 Gets Major Upgrades Including New 20.1 Megapixel Toshiba Sensor
August 15, 2014, 6:00 PM
With USB Type-C Spec Finalized, Reversible Cables Will Soon Be Upon Us
August 13, 2014, 8:46 AM
Windows Phone, BlackBerry Smartphone Market Share Falls to 2.5%, 0.5% Respectively
August 15, 2014, 9:44 AM
Update: Samsung Gets Official With 4.7”, Aluminum-frame Galaxy Alpha Smartphone
August 14, 2014, 8:56 AM
GM Concedes That the Cadillac ELR Doesn’t Really Compete with the Tesla Model S
August 15, 2014, 5:42 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information