By Carl Howe
OK, so you'd think after rising 11 points (6.8%) on stellar earnings news, Apple (AAPL) would be the darling of the stock market news yesterday. But no. Research in Motion (RIMM), maker of the Blackberry, had to announce that it signed a deal to offer the Blackberry in China, pushing it up 9.8% or 11 points as well. Sheesh. Some days Apple just can't get ahead. But to be fair, its new $162 billion market capitalization did pass both IBM (IBM) and Intel (INTC) today, so Apple really can't complain.
Seriously, though, congratulations to RIMM shareholders. When I look at their chart and the fact that RIMM stock has nearly tripled in the last 12 months, AAPL stock, which has only doubled in that period, looks like a downright conservative investment. But RIMM should watch out -- Apple sold about a third as many iPhones as RIM did Blackberries last quarter. And if Apple's efforts with Salesforce.com (CRM) bear fruit (no pun intended), RIM could see some real competition for business customers, especially the small ones RIM has targeted for future growth.
Full disclosure: the author owns Apple stock.