Research in Motion (RIMM) – 09-25-2009
RIMM has been under attack from AAPL, GOOG, MSFT, and PALM in the smartphone market and it’s finally starting to show in their numbers. Their days of complete domination appear to be over, so now they need to come up with a way to keep their current user base or expand the market. Fortunately for them, the market is rapidly expanding, but they can’t afford to rest on their laurels or they’ll end up needing a huge comeback like AAPL in 2000 (completed successfully) or PALM right now (TBD).
The volume of the drop today outpaced the breakout that brought us here, so it will be interesting to see what happens. If the market follows through with its correction, RIMM may be a nice short play. If not, it should at least be interesting to day trade on some bounce back days. Either way, all of these stocks are interesting to watch if you like tech stuff for the long run too.
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