RIM Puts iPhone Hype on Mute

Even as expectations around Apple's(AAPL Quote) iPhone reach a feverish pitch, BlackBerry maker Research In Motion(RIMM Quote) is more than holding steady.

RIM, which has the dubious distinction of reporting its first-quarter fiscal 2008 results Thursday -- the day before Apple launches the iPhone -- has reason to be confident.

Likely because of major product launches such as its BlackBerry Curve and World Edition smartphone, and strong sales from its Pearl device, analysts expect a blowout quarter for the Waterloo, Ontario-based company.

Still, the iPhone specter looms large and could affect the market's reaction to RIM's earnings.

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The iPhone has garnered extremely favorable reviews from The Wall Street Journal, The New York Times and USA Today, putting pressure on RIM to create a competitive design.

Investors could sell on the slightest hint of softness in RIM's guidance, says Matt Kelmon, head portfolio manager at Kelmoore Investment Company, which holds shares of RIM.

"The stock is priced for really good numbers and guidance," he says, "so if we see any weakness, yes, it would get hammered. But I don't see that happening."

RIM is expecting revenue of $1.05 billion, according to analysts polled by Thomson Financial, a substantial rise from $613.12 million the same time a year ago. EPS is likely to be $1.06, compared with 68 cents a year before.

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