Market Overview

RIM Shares Sink as Traders Respond to Meager BB10 Expectations

Related RIMM
Blackberry's Investor Strategy
A Peek Into The Market Before The Trading Starts

Research In Motion (NASDAQ: RIMM) shares are down more than 7% following comments from Pacific Crest's James Faucette.

The analyst believes BlackBerry 10's launch will be "lukewarm at best" and "ultimately" will fail. He cited a low number of apps, a lack of complementary devices and a UI which will be unfamiliar to most BB users.

Faucette said checks suggest inventories of BlackBerry devices at retail locations have already begun to fall without sell-through run-rates improving.

This argument is nothing new for Research In Motion investors; however, further deterioration in checks may be scaring traders today.

Posted-In: Analyst Color Analyst Ratings Movers

 

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