Last I heard, RIM’s stock (RIMM) was sitting around the $129 mark. Back in September, it was hovering around the high $70’s. That’s nothing compared to a year ago. With over 30 analysts covering the stock, it’s apparent that it’s one of the hottest on the market. In a great article featured on TheStreet.com, Priya Ganapati pieces together RIM’s stock success and other analysts weigh in on the direction it’s taking.
“…there’s an important difference between RIM and dot-com bubble stocks: RIM has demonstrated strong earnings. For its latest second quarter, RIM’s profit rose 27% to $140.8 million, or 74 cents a share, from $111.1 million, or 56 cents, in the year-earlier quarter, and sales rose 34% to $658.5 million, more than the $644 million expected by analysts. Shares of RIM surged 19% the day after that report alone.”
It’ll be an interesting quarter for RIM to say the least. Let’s hope the growth spurts aren’t too awkward.