RIM stock will continue to show strength

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RIM stock Sept 20th

So we all know that RIM’s stock has jumped (up to 87.49 USD at the time of this posting) mainly due to the release of the BlackBerry Pearl, and will probably continue to remain bullish as sales numbers are released. However, we’re informed BlackBerry aficionados and we don’t influence anyone. So it’s good to see that market analysts are jumping on the bandwagon and predicting big things for RIM.

Analysts at UBS are predicting that RIM’s financial momentum will continue due to strong user growth and hardware sales. Analysts are also predicting that RIM’s second quarter results (to be announced Sept. 28th) may exceed expectations due to overly conservative estimates.

RIM’s guidance implies 29 percent of users will upgrade their device in fiscal 2007, well below last year’s upgrade rate of 37 percent; but UBS analyst Maynard Um said he is seeing solid demand for the new BlackBerry Pearl smartphone around the country.

We’ll have full coverage of RIM’s second quarter results for you September 28th.