Comscore Jumps on the RIM Dog Pile

Research in Motion (NASDAQ:RIMM) is on the bottom of a growing dog pile of bad news from its delayed BlackBerry launch to its Playbook losing momentum. Investors have capitulated causing its shares to slide 50% since the beginning of the year and over 60% from its February high of $70.54. Comscore just delivered a flying back elbow to RIM by releasing its U.S. smartphone operating system market share data for February to May 2011, which showed that Apple (NASDAQ:AAPL) with 27% market share passed RIM’s that declined to 25%. ^[1] While seemingly inevitable, it is nonetheless symbolic and underscores RIM’s decline. Google’s (NASDAQ:GOOG) Android operating system leads the pack comfortably rising from 33% to 38% during the same period.

Our $42.60 price estimate for RIM stock is about 50% above market price. We also recently looked at downside scenarios to our optimistic estimates in a note titled RIM Looks Oversold but Here’s How to Justify it.

See our complete analysis for RIM stock

1. comScore Reports May 2011 U.S. Mobile Subscriber Market Share, July 5th, 2011 [↩]