I can’t take credit for that title. The geniuses over at CNN Money can have it. But apart from their poor titling, they’ve done a great job of shining a stock spotlight on RIM and their hurdles over the past while and how it looks as though they’re on the up and up. Who else really wishes they’d invested sooner?
Lawrence Harris, an analyst with Oppenheimer & Co., said competitors will have a tough time unseating RIM in the corporate market. He thinks the BlackBerry’s ease of use makes the devices more popular with corporations that need to buy them en masse.
“I think the key thing [for RIM] is they just don’t sell devices, they sell solutions,” Harris said.
RIM is due to report fiscal fourth-quarter earnings Wednesday, and analysts expect profits to soar 53 percent to 99 cents a share on a 66 percent jump in sales.
The company also recently announced it had added 1 million subscribers and many expect RIM to release several new models this year, which could give an extra boost to revenue.
For the full fiscal year, Wall Street is predicting that sales will jump 44 percent to $4.4 billion and that earnings will surge 39 percent.
What’s more, analysts expect profits to grow at about a 22 percent clip, on average, for the next few years. That’s more than double the expected earnings growth for Nokia, Palm and Motorola.
Look at these numbers. How good does this make you feel as a BlackBerry supporter? Here’s hoping that all of the other detractors are slowly coming ’round, but if they’re as stubborn as we are, they’ll all be captains and go down with their respective ships, I guess.