RIM (RIMM) Pops Higher as Launch of BB10 Will Be Earlier than Many Expected

November 12, 2012 8:41 AM EST
After months, nay years, of waiting, Research In Motion (Nasdaq: RIMM) is finally solidifying a time line for its upcoming BlackBerry 10 operating system.

According to a release earlier, RIM will hold a launch event for BB10 on January 30th, 2013. The launch will include a reveal of the first two BB10-based smartphones. Of the two devices, one will be a full touchscreen device, while the other will be reminiscent of the current Bold lineup.

RIM is up markedly on the news Monday. The stock last got a pop in October, after it announced that 50 carriers were in testing with BB10.

At the start of November, Jefferies commented on the BB10 launch, modeling a March 2013 debut for the OS following an update on carrier testing.

Over the last few years, RIM has been hit as corporations and government agencies have made the switch to operating systems and devices running Google's (Nasdaq: GOOG) Android platform and Apple (Nasdaq: AAPL) iOS. At $8.54, shares are down 57 percent from the same period last year and well below levels above $100 seen back in 2008. Despite the drop, many analysts and investors have hope for RIM, given its robust patent portfolio, reliability, and unique communications network for email and messaging, which has yet to be outdone by any competition so far.

Shares of RIMM are up about 3.8 percent in the early session Monday.

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Jefferies Analysts Peter Misek
PO on 2012-11-12 09:21:45
Mark as Spam | Reply to this comment

Peter Misek 'analysis' predicited a march release based on no evidence, great job calling him out in the article above, he is a deceptive analysts trying to game the system with misleading 'reports'.

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