Wall Street Manna

An irreverent look at Wall Street

Thursday, December 20, 2007

RIMM's earnings

Research in Motion (RIMM 102.13) reports after the close, and the stock has been beaten down from 137. Does anybody think that those financials types that are getting laid off won't get another BlackBerry? Are you kidding me? Why do they call them "crackberries?"

I know this is simplistic, but let me give you an anecdote. In July, we had a family reunion, and my brother, who is Mr. Corporate, was either pushed or he jumped into the pool, depending on who was telling the story. Then he remembered his crackberry was in his pocket. His face went from laughter to panic. The next few hours, you saw his BlackBerry, partially disassembled, drying off in the sun, with him checking up on it every 15 minutes, like a Dr. looking for a pulse. I'm surprised he didn't lay hands on it.

Oracle wasn't even dinged in financials services, and the bad news in Bear Sterns was already priced into the stock. Do you think any of the analyst chatter isn't already priced into RIMM?

You could always wait until tomorrow to buy the stock. And buy it above 112, or pick it up here before the BBE (Big Bad Event), which it isn't.