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iPhone 5 rumors: RIM likely to announce poor Q4 results, iPhone 5 could eclipse BlackBerry 10, says analyst

by Nicole
March 2, 2012 at 12:38 am

Shares in Research In Motion were down more than 4 per cent on Thursday after a research analyst said the BlackBerry maker is likely to miss its fourth-quarter sales targets.

”We are cutting our RIM estimates and target based on our belief that there is a greater than 50% chance that RIM will negatively pre-announce the February quarter,” Jeffries & Company analyst Peter Misek said in a research note to investors on Thursday. “We believe sales of both RIM’s low-end and higher-end phones continue to be challenged.”

Misek trimmed his target price to $12 from $15, rating RIM “underperform” and warning that it came up short on BlackBerry shipments in the fiscal Q4 ended in February.

The analyst also lowered his forecast for the February quarter to 10.5 million units from 12 million.

Misek trimmed his estimates regarding the February quarter earnings to 69 cents a share on revenue of $4.2 billion, down from his previous forecast of 82 cents a share on revenue of $4.6 billion.

“We believe street numbers will likely be revised down given the lack of major new products in the near-term and continued sales challenges due to competitive pressure from both low-end and high-end devices,” said Misek, adding that the launch of the BlackBerry 10 handset after the release of Apple’s iPhone 5 will be “particularly troubling.”

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