The 5 Dumbest Things on Wall Street This Week: Sept. 28
2. RIM's Terrible Timing
Failure, like success, is all relative. Just ask the folks at Research In Motion (RIMM).
The beleaguered BlackBerry maker apologized last Friday for a three-hour outage in Europe that echoed a similar widespread service disruption last October. RIM CEO Thorsten Heins said around 6% of the company's customers - or nearly 5 million users - may have experienced email delays.
"We are conducting a full technical analysis of this quality of service issue and will report as soon as it concludes," Heins said in a statement.Cheer up old buddy. Look on the bright side, last year's four-day service disruption was far larger by comparison, idling the thumbs of tens of millions of frustrated BlackBerry users. So, relatively speaking, one might say that RIM is headed in the right direction considering the size and scope of its screw-ups are getting smaller! (Along with the company's stock price, which has fallen more than 50% in the past year even after Thursday's Wall Street-beating performance.) Chin up Thorsten. Things could be worse. You could be Apple (AAPL) CEO Tim Cook during last weekend's positively disastrous roll-out of its newest iPhone. Not only did Apple not have enough supply on hand to meet the massive demand, but it failed to meet Wall Street's exorbitant forecasts as well. Apple announced Monday that it sold more than five million units of its new iPhone 5, just three days after its launch on Sept. 21. While that may seem like an impressive number, it was far below the targets of Wall Street analysts like influential Piper Jaffray analyst Gene Munster, who predicted sales of 6 to 10 million. "While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date," said Cook. "We appreciate everyone's patience and are working hard to build enough iPhone 5s for everyone." You see Thorsten! It's all relative. You wouldn't want to be that guy right now. Would you?
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