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Take Your Position: RIM

Of all the stocks in the tech sector, RIM may be the name that confounds investors on almost a daily basis.

The company hasn't been getting a lot of love from the Street lately despite sales that are still growing at a rapid clip. Largely, that's because analysts expect the BlackBerry maker to lose market share to Apple and other rivals.

However, on Tuesday, RIM said its first tablet computer, the PlayBook, will go on sale April 19 at a base price of $499; that matches the pricing for Apple's latest iPad.

Advocates such as Fast trader Tim Seymour argue that BlackBerry has a loyal audience and they will embrace the Playbook.

With shares 5% higher over the last 3 months, how should you play RIM ahead of earnings Thursday?

What’s the trade?

Colin Gillis of BGC just can’t get behind RIM. Not only is he concerned about RIM losing US market share, he thinks low-cost Android handsets will present strong competition for RIM in overseas markets. And Gillis can’t imagine people buying a PlayBook when they can get the iPad for the same price. “This is a brand that’s in trouble,” he says.

Steve Cortes is on the other side. "The negatives are known and RIM is universally hated. The valuation with a single digit P/E intrigues me."



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Trader disclosure: On March 23, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Tim Seymour is long (AAPL); Tim Seymour is long (BAC); Tim Seymour is long (SBUX); Tim Seymour is long (TM); Tim Seymour’s firm is long (ANTO); Tim Seymour’s firm is long (NEM); Guy Adami owns (AGU); Guy Adami owns (C); Guy Adami owns (GS); Guy Adami owns (INTC); Guy Adami owns (BTU); Guy Adami owns (NUE); Guy Adami owns (MSFT); Steve Cortes is long (TM); Steve Cortes is long (GS); Steve Cortes is long (CSX); Steve Cortes is long (SDY); Steve Cortes is long (SO); Steve Cortes is long Crude Oil; Steve Cortes is short (F); Steve Cortes is short (BAC); Steve Cortes is short (UNP); Steve Cortes is short (SPY); Steve Cortes is short (DBA); Steve Cortes is short Natural Gas; Steve Cortes is short Wheat; Steve Cortes is short Soybeans; Steve Cortes is short Corn; Steve Cortes is short CAD/USD; Steve Cortes is short EUR/USD; Pete Najarian is long (AAPL); Pete Najarian is long (AAPL) call spreads; Pete Najarian is long (BAC) calls

BRIAN KELLY
Accounts managed by Kanundrum Capital own (GOD)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own Silver
Accounts managed by Kanundrum Capital own Gold
Accounts managed by Kanundrum Capital own U.S. Treasury Bonds
Accounts managed by Kanundrum Capital own (EBAY)
Accounts managed by Kanundrum Capital own (PGH)
Accounts managed by Kanundrum Capital own (VLO)
Accounts managed by Kanundrum Capital own U.S. Dollar
Accounts managed by Kanundrum Capital own (NFLX) Puts
Accounts managed by Kanundrum Capital own Crude Oil
Accounts managed by Kanundrum Capital own (RTN)
Accounts managed by Kanundrum Capital are Short Yen

DOUG KASS
Doug Kass is short (RTH)

COLIN GILLIS
**No Disclosures**

LARRY HAVERTY
The Gabelli Global Multimedia Trust Owns (NFXL)
The Gabelli Global Multimedia Trust Owns (CBS)
The Gabelli Global Multimedia Trust Owns (VIA.B)
The Gabelli Global Multimedia Trust Owns (ERTS)
Larry Haverty is long (CBS)
Larry Haverty is long (VIA.B)

JED DORSHEIMER
Canaccord Genuity Inc. has received compensation from (LEDS) for investment banking services
Canaccord Genuity Inc. has received compensation from (RBCN) for investment banking services

MIKE KHOUW
Cantor Fitzgerald is a Market Maker in (RIMM)


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