RIM stock tumbles as analyst pegs BB10 for March
updated 12:47 pm EDT, Tue October 9, 2012
No delay announced, but stocks tumble anyway
Shares in Research in Motion fell today after a Jeffries & Co. analyst predicted that devices running its BlackBerry 10 operating system would likely miss the fourth fiscal quarter and debut in March. RIM shares had dropped 3.7 percent by 11:05 EST today, and are down 4.5 percent as of 12:35 EST. RIM has made no announcement regarding any product delays.
RIM's fiscal year ends February 28, 2013, and the company has already stated that its newest line of BlackBerry devices should be arriving in some markets in January. The Jeffries analyst, though, tells Reuters that business uncertainties mean that parties are unlikely to begin licensing or acquiring from RIM until its BB10 products launch. The Jeffries analyst believes RIM will not be able to meet its early 2013 launch target.
A spokesperson from RIM maintains that the company is on target to begin delivering BB10 in the first calendar quarter of next year.
