Research in Slow Motion

When I heard several brokerage houses upgraded Research In Motion (RIMM), I almost lost my lunch. The stock is up 93% from its 52-week low mostly on positive comments and a legendary short squeeze (over 20% of the float is short). But is the stock really a buy or is it just a short-term trade that you probably already missed?

If you take a look at the second fiscal quarter that RIM reported late September, it's clear the company has a lot more work to do. Revenue was down 31% year over year to $2.9 billion. The company shipped 7.4 million BlackBerry smartphones and 130,000 BlackBerry PlayBook tablets. By comparison, Apple (APPL) sold 26.9 million iPhones and 14 million iPads. Apple posted quarterly revenue of $36 billion, up 27.2%. In fact, Apple had four times more profit in the quarter than RIM had revenue. Ouch! Now you see the scale of the problem that RIM faces....264 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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