Geez, the way Research In Motion (RIMM) was trading down in the high teens on Wednesday, you'd think George W. Bush had endorsed the Blackberry.
Well, he didn't, and don't worry. The more-popular President Obama hasn't weighed in either.
All that's happened in this market, which shows no mercy, is that RIM announced a pair of items about its fourth quarter, to be reported on Feb. 28. Traders overreacted to the short-term bad and all but ignored the long-term good. For shame!
But the shame of traders means opportunity for you. Watch my video to hear how you can capitalize:
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All in all, it's understandable that in this economy, customers would not be upgrading. But if the absolute number of subscribers is growing faster than expected, guess what? Soup to nuts, that's positive.
Given time, customers will upgrade. Moreover, RIM now has far more customers than it ever thought it would, all poised to upgrade, as the move toward smart phones from RIM,
and more marches on, even into the current economic headwinds.
Good news indeed.
Don't miss my "Against the Grain" trades and my Press Maven videos every day on
At the time of publication, Fuchs had no positions in any of the stocks mentioned in this column.
Marek Fuchs was a stockbroker for Shearson Lehman Brothers and a money manager before becoming a journalist who wrote The New York Times' "County Lines" column for six years. He also did back-up beat coverage of The New York Knicks for the paper's Sports section for two seasons and covered other professional and collegiate sports. He has contributed frequently to many of the Times' other sections, including National, Metro, Escapes, Style, Real Estate, Arts & Leisure, Travel, Money & Business, Circuits and the Op-Ed Page. For his "Business Press Maven� column on how business and finance are covered by the media, Fuchs was named best business journalist critic in the nation by the Talking Biz website at The University of North Carolina School of Journalism and Mass Communication. Fuchs is a frequent speaker on the business media, in venues ranging from National Public Radio to the annual conference of the Society of American Business Editors and Writers. Fuchs appreciates your feedback;
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