Market Overview

Could Research In Motion Benefit From Steve Jobs Leaving?


Two days after Steve Jobs resigned from Apple (NASDAQ: AAPL) many are speculation that Research in Motion (NASDAQ: RIMM) may benefit, as wireless carriers try to expand beyond Apple and Google (NASDAQ: GOOG).

According to a Boy Genius Report article, RIMM may benefit, as it launches its new BlackBerry 7 smartphones.

As such, Sterne Agee analyst Shaw Wu upgraded RIMM stock to Buy, and raised his price target to $35 from $28. He believes the new handsets will receive positive traction from consumers. "The key differences this time include a refined user interface and improved hardware including faster processors, better graphics and displays as well as better build quality with its greater use of premium materials," Wu wrote on today in a note to clients.

He went on to say, "The company recently launched the new Bold 9900 and Torch 9810 and we see the upcoming launch of the full touchscreen Torch and new lower-end Curve in upcoming 1-2 quarters as future catalysts. RIMM has undoubtedly lost some customers but for loyalists still using 2-3 year old models, these refined updates are a worthy upgrade."

At last check, shares of RIMM were up $1.01 to $29.23, a gain of 3.58%‎.

Posted-In: Boy Genius Report Shaw Wu Sterne AgeeAnalyst Color Upgrades Analyst Ratings Movers Tech


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