Wall Street fears iPhone, sets RIMM stock to “Hold”

A stock market analyst, Needham’s Charlie Wolf, has set RIMM’s stock to “Hold” due to fears that BlackBerry’s growth will slow markedly once the first iPhone apps start hitting in June. Google’s Android, which is expected to launch some time this year, might also pose a threat to BlackBerry sales. Only consumer sales are mentioned, not enterprise, and Wolf sees only “a nominal probability… of a material slowdown.” Still, it’s quite a turnaround from just a week ago, where another analyst rated RIMM stock as “Outperform” and raised their target price.


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