Early Morning Tidbits: Google, RIMM

• Citigroup adds Google (GOOG) to its Top Picks Live list based on what presents itself as a highly favorable risk-reward outlook. Based on extensive channel checks, they believe that GOOG's Q2 results are well on track to meet their estimates ($3.82 billion revenue/$4.73 EPS), despite recessionary headwinds.
• JP Morgan reiterates its Overweight rating on Research in Motion (RIMM), with conviction.

Notablecalls: Both look like good bounce plays here.

Comments

[Yo Bob:]

RIMM - this AM was a good opp to sell some more shares - thanks for the premarket puff. I think that we'll see $100-105 by the end of July. If Apple has a good launch of its new phone, this will really put the dampers on RIMM.

2008 Jun 30 11:46 AM

[.crazylegs..:]

I can't wait for a few months out to see how RIM has fared against the iPhone "onslaught". I think it's a huge mistake to believe that iPhone hurts RIM - it actually has brought a lot of attention to the smartphone market. When you think about distribution, RIM has a huge advantage being on 375 networks vs. Apple's 80 or so after full launch. And RIM sells blackberries on the 80 networks Apple is on. It seems to me that both are well positioned.

2008 Jun 30 02:16 PM

[Tom B:]

Lazerow is correct that RIMM is on more networks, but, face it RIMM is tired, old technology. It's not a "falling knife" in the near future because the overall smartphone market is growing, but it would be the height of folly to consider it a good prospect out beyond 12 months, say.

2008 Jun 30 03:44 PM

[Dan Jacome:]

Ive talked to some of the top 10 holders of RIMM here; they aren't selling and think RIMM is still a robust smartphone story thru 09

2008 Jun 30 04:47 PM