Just a little update for all of you folks on the whole iPhone vs. BlackBerry debacle. If we’ve come to any conclusion, it’s that there’s not really any need to get up in arms (just yet, at least) as the iPhone’s going after a completely different end user.
A report from the International Business Times reports that not only should RIM not be worried about Apple, but they tag a high price tag on RIM’s stock.
Sanderson said that while both phones cater to a higher-end consumer, the iPhone is a robust multi-media device while the Blackberry is built for business. “It is well understood that a new Range Rover does not impact Lexus sales,” Sanderson explained. “Though they are both luxury vehicles, the gas-guzzling SUV is twice the price and has different appeal than the sedan.”
“Vivek Arya of Merrill Lynch echoed the notion, saying that the blackberry targets users that need a device that can handle a lot of messaging, while the iPhone is for multimedia.
The analyst reiterated his BUY rating on RIMM with a $165 price target. Sanderson reiterated his BUY rating as well, targeting $175.”
$175? Might be the first close to reasonable time to pick up some RIMM in the last little while. Also means that with the 8800 and possibly more on the way, 2007’s going to be a pretty great year for all parties involved.