The Blackberry Addiction (Or Why You Might Want to Own RIMM)
I am writing this on my Blackberry 8700 walking up Fifth avenue from my home to my office. Its a regular thing with me. I bump into people all the time. One time I bumped into my friend while he was walking down fifth avenue typing on his blackberry.
I do stop and look up when I cross the streets. I almost got taken out by a truck last month and that scared the shit out of me.
If this sounds like a guy talking at a 12 steps program, it is.
I am addicted to my blackberry. I have been since I got my first pager style unit in 1998. I've learned to manage my addiction. I don't bring my blackberry to bed, to my kids sports games, to dinner with the Gotham Gal. (Just bumped into a large woman in a red coat. She was not pleased)
Last year I tried other smartphones. I had a fling with Treo. It ended in acrimony over unreliability. Then I tried Windows Mobile. What was I thinking? Then Sidekick which I loved but it didn't synch with outlook and so now I've passed Sidekick and smartphone addiction on to my kids. I see myself in them and it kills me.
So here's my point. Owning RIMM is the equivalent of owning Phillip Morris or Constellation Brands without the lawsuits (yet).
Just had a glancing blow with a guy's briefcase. He didn't seem to notice
I've never owned RIMM the stock and don't own it now. It certainly seems like a stock where the good news is already baked into the story.
But I think they've got to move behind the enterprise and into the hands of consumers. Put a camera into the 8700. Knock $100 off the price. Build a killer instant messaging client. My kids are addicted, but not to Blackberry. If they can suck my kids and their friends into the Blackberry addiction, the sky is the limit for this stock.
Just had my third collision. And now I am at work. That's about par (just missed another person).
That's my take on RIMM. Here's Wallstrip's take: