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Apple vs. RIMM

   Research in Motion (RIMM) got slaughtered when it missed its earnings.  Investors debated the gross margins, weighed the guidance, opined on the growing subscriber base.   Hey, none of the above should be the important number.  Market share? Should that be our focus?  After all, as RIMM points out, it's the number one seller of smart phones in the United States. No, that isn't the key number that leads RIMM into the future. 
   What RIMM doesn't say (and, as far as I can tell, no one else has noted) is that Apple has surpassed them in total smart phone revenues.  This quarter RIMM reported sales of $4.1 billion.   Apple surpassed them, selling $4.6 billion worth of iPhones in Q4 2009 and, more recently, $5.6 billion in Q1 2010.  Remember the iPhone didn't exist until mid 2007.  IPhone sales have gone from zero to $5.6 billion in about 900 days.  It's very hard to compete against that explosive growth.  The key metric to focus on is money.  And, here, Apple has already left the pack far behind. 


Disclosure: long AAPL