Blackberry (Research in Motion) revenue was up 53% year-over-year, according to its just released quarterly report, adding 3.8 million subscribers. Its forecast for next quarter is for healthy growth, though just under Wall Street expectation. The stock dipped in after hours trading. Amazing. Here’s a company doing well in a piss-poor economy and the street is selling.
Blackberry is a smart company. They are innovating, taking chances, have a cornerstone product (with a nickname) and have created a market for a requisite business tool. How is this stock not rising every day?
Twice on Monday I found myself – I’m not a Blackberry owner, but my 18 year old son is – emailing business associates that I would be off the grid for a couple of hours. In other words, in transit without laptop connectivity. Off the grid sounds cool but it’s a euphemism for "I don’t own a Blackberry." This was the first time in a long time I felt modest tech shame. The fact is I text like a dookie, but that’s not happening for the majority of your Blackberry-carryin’ business class. I don’t see myself buying a Blackberry, but if the shame turns into lost dollars….. Peace!