In a client note late Wednesday, Banc of America Securities analyst Tim Long reiterated his "Buy" rating and $146 price target for Research and Motion shares. Long predicted that next week the company will report third-quarter revenue of $1.64 billion, which would be near the high end of its guidance.
"Checks have been positive and we haven't seen any signs of an enterprise slowdown. We think November quarter sales have been driven by strong Curve sales, 8830 sales and the introduction of the CDMA Pearl," he said.
Long also expects the company to issue positive fourth-quarter guidance.
At the time of the Forbes.com story, RIMM was down to 99+. Any semblance of good news was going to light the stock up. So, while the rest of the market had rallied (erratically) over the past week, RIMM sat in the corner. Now the market is flat, and RIMM is igniting. Buying in the final two hours today was heavy. Probably will continue in the morning. Would've made a productive daytrade. I'm still holding my long and swing shares beyond earnings (Dec. 20).
If the B of A news isn't enough, China Mobile announced that the BlackBerry goes out in January.
BlackBerry Mobile Phones to Debut in China in Jan 08
The BlackBerry 8700g mobile phones are being tested by the mobile carrier now and are expected to make its debut in the market next month, said the employee.
The market for cellphones in China has been insanely robust for many years now. People there access the internet via cellphone more than any other means. Nihao ma!
RIMM intraday
RIMM daily
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