BlackBerry 10 revives hopes for Research in Motion (CN:RIM)- AAPL

Blackberry Maker Research in Motion (CN:RIM) shares has been showing a bullish trend for the past 2 months and the rally continued on Friday. RIM shares closed 14% higher on Friday due to the upping of price target on the stock and predictions for product shipments of 2014 by National Bank Financial Analyst ‘Kris Thompson’.
It has been a year since RIM’s next generation smart phones, tablets and software have been slated to go on a sale.  However RIM announced last week that its long awaited software Blackberry 10 debut would be on January 30, 2013, which comes after two postponements from beginning of 2012 and the end of 2012.

RIM’s fate hangs on the BlackBerry 10

The assurance from RIM CEO Thorsten Heins for the past few months with regards to the launch of the software and devices by early 2013 is being seen by the investors as more optimistic.

Over the past 2 months the market has seen RIM shares gaining an astounding 59% which is more remarkable in comparison to the smart phone king Apple Inc. (NASDAQ:AAPL) slumped in the same two month period. Apple Inc. (NASDAQ:AAPL) had made an Intraday low of about $506 last Friday which was a dip of $200 from the all time high it made in September. The stock has fallen due to the stock market concerns about fiscal cliff and Europe’s continued debt crisis.

The share price of Research in Motion (CN:RIM) was up by 3.49% to close at 11.61 CAD whereas shares of Apple Inc. (NASDAQ:AAPL) were up by 1.74% to close at $571.50.

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Published by Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.

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