GMP Securities Calls Out RIM
GMP Securities has called public attention to Research In Motion in order to cast light on their current value. RIM (ticker symbol RIMM) has dropped from $84.00 a share to $48 over the past year, despite the recent release of OS6 and the Torch 9800. An analysist from GMP named Michael Urlocker stated
that the company has little potential for gains and should be viewed as a “hold” stock instead of “buy” stock. Apparently Urlocker and his team at GMP Securities went to fifty ATT stores to see how the Torch was comparing to iPhone 4 sales. The iPhone 4 outsold the Torch in every store but one and that one store was sold out of iPhone 4’s. So the iPhone 4 out selling the Torch 10-1 in some stores was a good reason for Mr.Urlocker to convey to the consumers that “RIM needed to be bought out” and was “reasonably priced at $23B.” In my opinion I feel that Urlocker’s statement’s are unfair in every way. Of course the iPhone 4 will sell more units than the Torch. It was released two full months prior and already had a tremendous lead in sales. Comparing Apple sales to BlackBerry sales is like comparing “apples to oranges.” Two entirely different spectrums of the smart phone market and lets not forget who still has the biggest percentage of that market (RIM). BB users need not to be alarmed. RIM will be around for a long time and the future generations of devices they put out will keep getting better and better.