Research In Motion (RIMM) Sales Plummet: Are stocks good now?
Research In Motion (RIMM) as we all thought would have an attractive sales sheet, but in fact they have had a 10 percent plummet.
A Pacific Crest analyst has stated that their retail sales for the current quarter has been a little disappointing, we personally say this will increase by a large margin as soon as the BlackBerry Storm goes on sale, and with even more products coming in 2009 surely means they are in a good position.
Obviously we here at Phones Review are being a little skeptical, with the wholesale taking a little beating RIM over the past several months has felt this which is pretty hard indeed, and with the latest bad news leaves its stocks down to a level where it is getting very interesting indeed.
The latest results sees it at $52 where RIMM trades at around 18X trailing earnings, so given the immense and growing competition like the Apple iPhone and indeed the Google G1 a 15X-20X multiple makes it look a lot more like 40X the stock traded for quite recently.
This leaves us with a few questions, the first being “Are RIMM stocks good now? And of course “Will RIM be bought, and if so by whom?