By June 4, 2012

RIM Death Spiral Continues: Stock Hits Single Digits

Today, RIM’s stock price fell below $10 for the first time in nearly a decade, tumbling 6.53 percent to $9.57.

Wedge Partners analyst Brian Blair says it best. “We don’t see any scenario where BlackBerry 10 can compete meaningfully against the three major smartphone operating systems.”

“Our longer term view remains that RIM will be forced to focus on the low-end, developing market segment, as we believe that remains the only available opportunity for the company. The high end and mid-tier smartphone markets simply don’t want BlackBerry anymore.”

Blair continues, “The potential for RIMM to offer a more appealing, completely new and different OS, without a keyboard (initial devices won’t have it) and with no apps and no ecosystem to enterprise/consumers is incredibly slim.”

As I’ve been saying all along.

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