(Research in Motion article updated with afternoon stock movements.)
NEW YORK (TheStreet) -- Research In Motion (RIMM) (RIM) was reduced to sell from neutral Thursday by Goldman Sachs, which was concerned that RIM wouldn't be able to keep up with Apple's (AAPL) - Get Report iPhone and Google's (GOOG) - Get Report Android operating platform as applications gather more steam than email, an area where RIM had been a dominant force.
RIM on Wednesday posted a revenue increase of 18% to $4.08 billion in the fourth quarter, but the figure still fell below the Wall Street consensus estimate of $4.31 billion.
Other news that weighed on RIM came on Tuesday, when the possibility that
could start selling iPhones this fall was revealed.
In Thursday afternoon trading, shares of RIMM were down 5.4% to $69.99.
-- Reported by Andrea Tse in New York
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