Hey, the BlackBerry is back
Research In Motion shares rise as new operating system and devices loom.
People are excited about the BlackBerry? Research In Motion (RIMM) shares are up? How did that turkey-induced tryptophan slumber somehow take us back in time by about five to ten years?
Fear not, post-Thanksgiving tech junkies. It's still 2012 and your Google (GOOG) Android and Apple (AAPL) iOS devices still exist. If you're a Research In Motion investor who's weathered the company's prolonged tough patch, however, the impending release of the BlackBerry 10 operating system next year and Friday's 14% boost in share price are worth throwing a 2000s theme party over.
Put on that Paris Hilton costume and crank up the Sisqo, because Research In Motion's finally going to launch its much-talked-about platform and new devices in 2013, after delays of almost a full year. The company's stock is up 90% in the last two months on high hopes and Jefferies & Co analyst Peter Misek, who has done RIM no favors with his past criticism, raised his rating and price target on the stock on Tuesday.
It's a rare burst of joy for a company that's manufactured little but bad news since the turn of the decade. Even with the recent uptick, share prices are down 90% from 2008, when they peaked at $148. Remember when BlackBerry was the smartphone and the favored tech plaything of the free-spending, blue-shirted set? Last quarter it fell to 8.4% of the U.S. smartphone market, according to ComScore (SCOR). Worldwide, Gartner (IT) says BlackBerry has slid from 11.3% of all smartphones in the third quarter of 2011 to just 5.3% last quarter. By comparison, Google Android devices grew from 52.5% to 72% of the market during the same span.
In darker times, Research In Motion could console itself with the reminder that at least it wasn't Nokia's (NOK) Symbian. Never a huge force in North America, the near-antiquated Symbian smartphones are now a scant 0.6% of the U.S. market, while its worldwide share has collapsed from more than 50% roughly three years ago to 16% in third-quarter 2011 and just 2.6% today.
Now Research In Motion's having more fun than Apple, with its share price climbing 59% in the last two months compared to Apple's 17% collapse during the same period. Granted, Research In Motion's market share is still shrinking and it hasn't launched a damned thing yet, but for the first time in a long time the company's anticipating something ... anything.
Earlier this month, Research In Motion announced that it plans to introduce its new operating system and devices on Jan. 30 and make them available to consumers by February. The new platform and devices just received U.S. government security clearance, which gives the U.S. and Canadian government agencies that constitute a huge portion of the BlackBerry's user base access to the new smartphones as soon as they arrive.
It'll launch with a touchscreen, but old-school, original recipe keyboard BlackBerry devices that fanboys love so well will get the BlackBerry10 treatment a few weeks later. Will that be enough to turn things around for the fallen Canadian tech giant? It's a better strategy than watching the company wither while the BlackBerry becomes a retro relic.
More from MSN Money
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The headlines generally favored Tuesday being another good day for the stock market. Instead, it was just a mixed day with modest point changes on either side of the unchanged mark for the major indices.
For the most part, the stock market was a sideshow. The main trading events were seen in the commodity and Treasury markets, both of which saw some decent-sized losses within their respective complex.
Dollar strength was at the heart of the weakness in ... More
More Market News
The S&P 500 manages to keep a deathgrip on 2,000, but key areas of the market are already buckling under pressure.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'