Comscore recently came up with a report on U.S. smartphone subscriber market share for smartphones based on Google (NASDAQ:GOOG), Apple (NASDAQ:AAPL), Research in Motion (NASDAQ:RIMM), Microsoft (NASDAQ:MSFT) and Nokia (NYSE:NOK) platforms.  It was no surprise to see Google Android widening its gap with Apple, while RIM continued its decline in the smartphone market.
How has RIM fared in the last year?
We were interested to see how much has RIM lost its ground in the last year and compiled this in the above chart. We found that RIM’s market share has almost halved after declining from 40% in June last year to 23% in June this year. However, its stock has slumped even more and declined from a peak of $70 in February this year to less than $24 as of today.
- Why Is Google Creating A New Hardware Division?
- How Will The Virgin America Deal Alter Alaska Air’s Capital Structure?
- Chevron Q1 Earnings: Revenues And Earnings Suffer, Cash Outflows Still Greater Than Inflows, Company Cuts Capex
- Currency Impact Drags Down Master Card’s Q1 Earnings But Fundamentals Still Strong
- What Is India’s Share In The Net Sales Of Diageo Before And After The Purchase Of United Spirits Limited?
- Exxon Mobil Q1 Earnings: Revenues And Earnings Suffer Due To Low Oil Price Environment, Company Cuts Capex
We have a $43 price estimate for RIM stock, and our price estimate is about 80% above market price.
What justifies our $43 price estimate?
Although things are looking bad for RIM in the near term, we believe that there is value in the shares over the medium term if the QNX operating system and careful choice of product portfolio can stop the slide on market share for the Canadian company. We discussed in our earlier note titled What Justifies Our $43 RIM Estimate.Notes: