Smart phone makers Research in Motion, Apple and Palm are all in great shape for more upside, said Mike Abramsky, managing director of RBC Capital Markets and David Garrity, principal of GVA Research LLC.
“[Smart phone market] shares are so small right now,” Abramsky told CNBC. “RIM's market share is less than 2 percent and Apple is only a little more than that. Both those players along with the Palm are very small compared to the incumbent companies such as Nokia .”
Abramsky said smart phone companies are in a position to benefit as existing wireless vendors find it hard to make new data smart phones that can compete with products from RIM , Apple and Palm .
The latest Apple iPhone hit stores todaywhile RIM on Thursday offered investors an outlook that fell short of some expectations, sending the BlackBerry maker's stock sliding even as the company reported a higher quarterly profit that topped forecasts.