The Appleberry that never was
If any Research in Motion shareholders were hoping to get news of an Appleberry (I prefer “JimJob”, combine Jim Balsillie and Steve Jobs), it sounds like the odds are dropping by the hour. TD Newcrest’s Hardware Research Analyst commented yesterday on what he is hearing about a pending iPhone, and the impact this might have on RIM:
“The market is abuzz regarding a possible combination iPod wireless phone from Apple (dubbed the iPhone). We believe such a product makes sense for Apple, and if anyone can make a phone that is also a great music player (something we think hasn’t really been done yet), Apple is probably that company. How would BlackBerry sales be impacted by the launch of a really slick and well-designed music phone? At the end of the day, our core thesis on RIM suggests that music phones do not compete head-on with BlackBerry. In the enterprise market we see almost no overlap. In the consumer market we believe most BlackBerry owners bought their device for its messaging capabilities (basic music capabilities would be expected, but not the reason for buying). We think that an iPhone (or something like it) would only reduce BlackBerry device demand from customers who had no intention of using the messaging capabilities of the device. That, in our view, would be the minority of buyers. We maintain our Action List BUY recommendation and US$165.00 target price on RIM.”
This news, if true, will also come as more than a bit of a slap in the face to Canaccord tech “analyst” Peter Misek, who sounded the “buy buy buy” alarm bell last June when he talked about the possibility of Apple and RIM working together as though he’d been given an exclusive tour of the secret development lab himself. Perhaps he had heard a story about someone allegedly being fired from RIM for taking an alleged demo model out to the local Waterloo Tim Hortons, and getting caught red handed fondling an actual AppleBerry while waiting in line for a double-double.
It appears that he told journalists that the source of his Appleberry scoop was that “Intel had recommended” that Apple and RIM work together, which sounds a long way away from “evidence” of a joint product.
Then there was the Sept. 13, 2006 research note summary:
“I’m too sexy for my RIM, too sexy for my RIM, so sexy it hurts. “Hey, what’s that?” “That’s sleek,” “Wow, that’s small,” and “That’s sexy” were just some of the common reactions people had to the RIM’s new BlackBerry Pearl (8100). Following a hands on review of the new BlackBerry Pearl (8100), Canaccord Adams Technology Analyst Peter Misek believes RIM has
taken a strong stab at the consumer market with this device. There is no question that this device will be a winner, with the major question being, can RIM manage this? Misek believes the 8100 can fairly easily eclipse the multi-million per year shipment milestone and puts RIM on track for 10 million subs within 18 months. More importantly, Misek believes RIM is aiming to become a 10 million unit shipper per year in the near future. There is solid evidence RIM, Apple (AAPL), and Google (GOOG) have collaborated and are likely to collaborate in the future.”
Strong evidence that RIM, Apple and Google “have collaborated and are likely to collaborate in the future”? Really? You never really know with him.
One journalist has already figured out that his “calls” are, as his former colleagues well know, sometimes more about generating trade than actually getting the story right. The tech bloggers also quickly poured water on the AppleBerry idea, as well.
Exciting as it is to dream about two of our favourite devices giving up their identity and joining as one, I defer to Umiastowski’s research on this one. But that’s just an opinion.