Wednesday, April 2, 2008
Recession Proof Trends
RIMM is blowing up in after hours trading! RIMM posted surprising quarterly results that blew away analysts expectations doubling prior years sales and profits.
Is RIMM recession proof? Hell no, but I love seeing stocks blow up on a day when Bernanke is scaring everyone with recession talk. RIMM is a great company with great products. They are getting a lot of attention from the consumer market thanks to the release of the Pearl and residual Apple customers. This is what Forbes has to say:
Riding on the coattails of Apple's iPhone, Blackberry maker Research In Motion late Wednesday posted surprisingly strong results for its latest quarter as consumers cottoned to smartphones of all stripes.
Research in Motion strategy is to expand into the retail consumer market and move away from its traditional dependence on corporations and government agencies. It has been seeking to woo general consumers with multimedia-heavy handsets such as the BlackBerry Pearl.