RIMM = LEH
I am constantly amazed to see that people still own RIMM. To me RIMM is LEH right before the Summer of 2008. Inflated by its reputation, but with no real future. And RIMM is not “too big to fail” by anyone’s standards. We are seeing reports of key RIMM execs leaving over and over for the past couple of years. People that have the product generally are very “old school” and only have it because they know it well. Let’s face it, if you are not tech savvy and you have been stuck with a Blackberry long enough you will eventually learn it. And those that lack the technical know-how to learn a new device are likely the only ones keeping RIMM alive – somewhat.
Now – this massive outage. Even those RIMM users not yet affected are in gave fear that their lifeline will be cut. How strange it is that everything related to a Blackberry when it comes to email must go through a Blackberry server. If that server infrastructure is down, you are dead in the water. Very strange.
(Above from DailyTech.com – THE LINK)
One of my best friends is an IT senior manager at a big firm. He was all about Blackberry two years ago. I saw him recently and he and his wife had iPhones. The “security concerns” he once voiced, he says, have all been addressed. That is the same all over. I saw a picture of Joseph Biden carrying an Ipad just a couple of days ago.
Look at the one year chart:
Sad – but there is a reason for that. The reason is the product is fried. I hear from BGR.com that the Blackberry Playbook is great. Okay – one positive tech review. That one review is not enough to save RIMM. (Nobody is buying the Playbook, save the most loyal RIMM customers – and probably their employees.)
RIMM ONE YEAR FROM TODAY:
Send me your guesses!
I am betting less than $0.25. I need to go get some puts on this one!
Disclosure: I have no position long or short, although I should go out and buy puts on RIMM!