Blackberry Torch will lead RIM to the Promised Land?
On August 12th the heavily leaked and highly anticipated Blackberry Torch went on sale via an exclusive deal with At&t. It was anticipated as the phone that would “save” RIM from going the way of Palm. After its first weekend in sales, which was an estimated 150k it looked like Blackberry’s savior would not come through in the “clutch” as they had hoped. Looks like the folks over at BMO Capital Markets, see this a little differently.
A report recently filed by BMO Capital Markets, basically is saying that the Blackberry maker Research In Motion (RIM) is right on the button with meeting or even potentially surpassing any Wall Street expectations. In a memo to investors BMO’s analyst Tim Long states that the new Blackberry Torch is showing strong sales according to his findings. The Torch was released earlier this month and did not do so well within its first weekend in comparison to the likes of say an iPhone which sold 1.7 million phones in a matter of three days. While the new Blackberry Torch is not an Iphone or even a high end Android phone, Long is coupling the launch of the new device with RIM’s expansion into international markets into positive and profitable growth. However, since the start of this year RIM’s stocks have been down about 30%, but Long’s prediction looks to be letting that come back up over time. Some investors are factoring in the fact that RIM’s stock levels will continue to drop, but according to Long, they simply will not.
Looks like this player has some faith in the new Blackberry Torch and the –attempt at – global expansion and has deemed RIM as an “Outperform” in regard to it shares. RIM will be reporting its earnings for the quarter on September 16th and we shall see exactly what the Torch and RIM’s expansion has really done. If these results come back positive there will most likely be a sarcastic “smirk” on the face of RIM, and who are they “smirking” at? Any writer or reporter that doubted what they were doing with the Torch.
Only time will tell, but let us know what you think will happen to RIM, will they be up? Break even? Or down?RIM, BlackBerry, Blackberry OS 6, BlackBerry Torch 9800