Analyst Calls RIM “Delusional”…. Bitch Slaps Can’t Be Far Behind

Hot on the heels of Research In Motion missing the street in terms of it’s quarterly earnings, comes this assesment of their guidance by Charles Wolf of Needham & Co. One of the things that RIM had stated in their conference call that they had nothing to fear from the iPhone and from Google’s Android OS. Wolf’s assessment however is quite different:

“In their conference call, management dismissed the notion that new competitors, most notably Apple’s iPhone 3G and new smartphones running on Google’s Android platform, would materially slow the growth in new subscriber activations. We continue to believe that the company has its head in the sand. Yes, the iPhone and Android phones will expand the market as they lure mobile phone users to smartphones. But we believe it’s delusional to think they won’t cut into BlackBerry sales as well, especially in the consumer market.”

Wow. I can’t believe that he said that. I guess the street is really ticked at RIM. He could be over-reacting as well. But seeing as RIM stock is down at least 30% since they came out with their quarterly earnings, perhaps he isn’t.

It will be interesting to see what RIM does to prove people like Wolf wrong. One would think that whatever they have planned, they need to do it quickly.

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