"As both consumers and businesses position themselves to ratchet up their spending in support of the recovery ... RIM is very well-positioned to take advantage of that, no matter what market it's in." Carmi Levy, an independent technology analyst, said of the technology company.
However, high expectations are already reflected in RIM's share price. Since July the stock has risen more than 18% as investors anticipate that a rebound in business and consumer spending will boost the company's performance. In fact, the stock has doubled since the end of last year.
RBC Dominion Securities analyst Mike Abramsky wrote in a note to clients that he foresees further gains for RIM shares, thanks to its new models and the accelerating smartphone market. He has an "outperform" rating on RIM.
A lot of RIM’s growth is coming from the consumer, adds Citi analyst Jim Suva. If the enterprise market returns then watch out.
What’s the trade?
BlackBerry still owns the space, says Pete Najarian. This is a stock worth watching.
What do you think? We want to know.
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Trader disclosure: On Sept. 23rd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (F); Terranova Owns (F) Calls And (F) Puts; Terranova Works For (VRTS); Najarian Owns (ACI) Call Spread; Najarian Owns (C) Calls; Najarian Owns (DELL) Call Spread; Najarian Owns (ERTS) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (PALM) Calls; Najarian Owns (ORCL); Najarian Owns (TEVA); Najarian Owns (V) And (V) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (MSFT), (NOK), (PBR), (WMT), (RIG), (TGT), (BDX); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman Owns (RIG); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC); Finerman Owns (WFC) Preferred Shares; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Seymour Owns (AAPL), (BAC), (RIG), (SBUX), (FXI), (F), (TTM)
For Jim Suva
Citigroup Owns (PALM)
Citigroup Has Received Compensation From (PALM)
Citigroup Is A Market Market In Securities of (PALM)
Citigroup Is A Market Market In Securities of (RIMM)
For Dennis Gartman
Gartman Owns Gold
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