By Carl Howe
OK, so you'd think after rising 11 points (6.8%) on stellar earnings news, Apple (NASDAQ: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 (NYSE:IBM) and Intel (NASDAQ: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 (NYSE: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.