Research in Motion busted through estimates and raised guidance on Thursday, propelling the stock roughly 19%. The stock has sold off from a pre-market high of 123 (Friday) to below 118 today. Once guidance is raised, there's not much upside room for any stock. RIMM is not just any stock, though, and imminent news about the BlackBerry in China, for example, could move the stock again. After all, it is still $17-plus below its all-time high.
Will traders move profits over to Apple? Possibly. But I think RIMM will hold up at this level, particularly through the early part of January. There have been too many reiterations of price targets in the 140-150 range since Thursday's earnings report.
Pupule's Top 25 (Dec. 25)
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