At BlackBerry Cool, we try to avoid posts of an alarmist nature, as they’re usually a pretty cheap way to attract attention (playing Chicken Little was never our style). That being said, it’s always worthwhile to pay attention to RIM’s financial outlook, especially in the face of the current economic crisis.
Since trading resumed after Thanksgiving weekend, RIM’s share price has dropped from a high of $44.22 on December 1st to it’s current trading value of $36.38, a difference of $7.84, or roughly 18%. This drop is mostly a reflection of analysts such as J.P. Morgan trimming their RIM ’09 and ’10 earnings estimates. Just yesterday, RIM themselves lowered their Q3 revenue expectations due to product launch delays and the economy in general. While most of us already know how David Pogue feels about the BlackBerry Storm (you should all read Al Sacco’s excellent retort to Pogue’s article, by the way), even the Wall Street Journal is now asking whether RIM’s issue is launch delays or the devices themselves.
So I feel as though diligent members of the BlackBerry Nation have to ask, is this a minor hiccup for RIM or the beginnings of a looming downward trend? To put a finer point on it, is the sky falling or is it just starting to rain? Post a comment and let us know.
