RIM (RIMM) Shares Lower as Analyst Sees Earlier-Than-Expected Halt in Production of Wifi PlayBook
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 13 | New: 1
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 13 | New: 1
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Shares of Research In Motion (Nasdaq: RIMM) are getting punished Monday following some concerning comments from an analyst this morning. The stock last traded at $26.47, down 3.8 percent from Friday's closing price.
Citing people familiar with the matter, an analyst at OTR Research believes RIM may suspend production of its wifi-version of the PlayBook by October given worse-than-expected sales. Research In Motion was originally supposed to continue producing the wifi model through 2011.
The OTR analyst currently sees sales of the wifi PlayBook sliding a sharp 39 percent from an estimated 800,000-1 million devices during the second quarter to just 500,000-600,000 in the third quarter.
Adding some perspective, OTR said it is currently looking for Apple (Nasdaq: AAPL) to report total shipments of 12.5 million iPad's during the latest quarter.
Citing people familiar with the matter, an analyst at OTR Research believes RIM may suspend production of its wifi-version of the PlayBook by October given worse-than-expected sales. Research In Motion was originally supposed to continue producing the wifi model through 2011.
The OTR analyst currently sees sales of the wifi PlayBook sliding a sharp 39 percent from an estimated 800,000-1 million devices during the second quarter to just 500,000-600,000 in the third quarter.
Adding some perspective, OTR said it is currently looking for Apple (Nasdaq: AAPL) to report total shipments of 12.5 million iPad's during the latest quarter.
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