Wednesday after the bell we find out how well Research In Motion may be able to fend off an assault from Apple and Google as both attempt to wean away business customers from the BlackBerry maker.
Analysts expect RIM to post earnings and revenue at the high end of forecasts, while the upcoming launch of the BlackBerry Bold smartphone may set the stage for a strong performance in the rest of the year.
"We believe another beat-and-raise quarter and building excitement over the upcoming ... (BlackBerry) Bold should provide fresh wind in RIM's sails," Citi Investment Research analyst Jim Suva wrote in a recent note to clients.
RIM announced the launch of the BlackBerry Bold last month. It's a top-end smartphone aimed at the company's core of business users and RIM hopes it will drive customers to upgrade their current devices.
“I see a lot more on the horizon and I think that drives the guidance for the rest of ’09 and 2010,” says Tim Long senior research analyst for Banc of America on Fast Money.
Although the market always likes to see who can steal market share from whom, strong earnings could be positive for the industry as a whole.
“I think strong RIMM earnings are also positive for Apple and Nokia,” Long adds. “The way we look at the market we see smartphones taking share from other types of electronics devices such as cameras or music players.”
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Trader disclosure: On June 24, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (NUE), (MSFT); Macke Owns (DIS), (WMT), (MSFT); Najarian Owns (AAPL), (HD), (NOK), (TSO), (XLF); Najarian Owns (WFMI) Puts, (MER) Puts, (DHI) Puts; Najarian Owns (YHOO) Calls, (EK) Calls, (UBS) Calls; Finerman Owns (GS)
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(RIMM), (GOOG), (MOT), (NOK), (AAPL) Are Investment Banking Clients Of Banc of America Securities (BAS); (RIMM), (GOOG), (MOT), (NOK), (AAPL) Are Or Were Clients Of BAS In Past Year; (NOK) Is Or Was A Client Of BAS In Past Year; Banc Of America Securities Has Received Compensation From (GOOG) In Past Year