Even A Strong Market Rally Cannot Save RIMM (DJIA, COMPQ, RIMM, AAPL, GOOG)
August 17, 2010 10:54 AM
The Dow (DJIA) is up 140 points today and the Nasdaq Composite (COMPQ) is higher by 1.62%. But, if you were just looking at how Research in Motion (NASDAQ: RIMM) was trading you would think the market was having a rough day.
RIMM shares are lower by 73 cents, or 1.44%, to $50.10. Shares are now barely above their 52-week low of $47.42.
Investors are sending a strong signal that RIMM is losing out to competitors in the smartphone market. The new BlackBerry Torch simply cannot compete with Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) devices.
RIMM has fallen by the wayside and is largely becoming irrelevant. While the smartphone market is growing and there is a large pie to be shared, RIMM's piece of that pie seems to be shrinking rapidly with each passing quarter.
