Stock down a quick 15 on the earnings. Yikes.
They missed current quarter estimates by a touch and EPS by a penny. Next quarter, they guide better than consensus and about in-line with recently revised revenue estimates. The EPS guidance, however, is as much as nickel below the street.
Subscribers come in at 2.3mm, which is a little bit below some of the recent #s I've seen. Shipments of 5.4mm is roughly in line.
Down 15 seems extreme and I'm tempted to start buying it here but I figure a lot of traders are caught in the name because of all the reiterations going into the number. I'm bidding $120 to buy some, hoping it gets sloppy. I think 131 is a fake support level near-term. It's going to need to spill more than that.
If RIMM trades to 120 its a great opportunity to get in on the preeminent smartphone franchise.
Wednesday, June 25, 2008
Research In Motion (RIMM) 1Q:2009 results
Subscribe to:
Post Comments (Atom)
1 comment:
120 seems right - considering there are only 3 trading days left in the quarter and managers are hemming and hawing over what names need to be on the sheets for quarter end.
Post a Comment