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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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Posted by Devin Kent in Financial, News
Comments [4 Responses]
April 10th, 2008 at 9:18 am
As soon as apple releases the phone to other carriers BB is dead in the water….
April 11th, 2008 at 12:45 am
[...] Wall Street fears iPhone, sets RIMM stock to “Hold” | BlackBerry Cool [...]
April 15th, 2008 at 5:24 am
RIM has no worries. As it has been mentioned, this market prediction is only based on consumer sales and not enterprise sales. Also, Apple’s track record, IMO, in engaging the corporate business for its products has been shotty at best. I also think that until enterprise developers get 100% free reign on building 3rd party apps for the iPhone with out Apples blessing such as RIM pretty much gives you, RIM will continue to rule the roost.
