Breath Breadth stunk but I am impressed by the close. The market seems to have a persistent bid on weakness. Much better than prior rallies indicating the character of this rally has changed for the better.
Good to see APPL rise in sympathy with RIMM. My thesis on smartphones has been that a risisng tide lifts both these boats. The numbers on smartphone adoption are phenomenal. I published the following on RealMoney.com back in February:
SNL Kagan recently published a long-term forecast for Smartphones in the U.S. At the end of 2008, smartphone subs were 52.6 million of 255.4 million total wireless subs. Kagan projects that in 2018 smartphone subs will represent 241.8 million of 316.3 million total wireless subs. Stated simply, smartphone penetration is going to rise from 33.7% to 74.4% over the next ten years.