I bought 1/4 of my target position in RIMM at $65 on 01/19/2010 this puts my position at 50% of my long term objective.
Here is a summary of my recent trades in RIMM
02/18/2009 10:06:29 Bought 1/4 of target RIMM @ 44
04/06/2009 13:01:09 Sold 1/4 of target RIMM @ 63
07/08/2009 17:10:37 Sold 1/4 of target RIMM @ 66
01/19/2010 09:38:52 Bought1/4 of target RIMM @ 65
Why dd I buy RIMM?
Credit Ssisse, The Street and Ford Equity Researcy all rate RIMM at their highest catagory rating. The Street’s report dated January 17, 2010 had this to say about the company’s strengths:
“The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income.”
Other reasons why I rate RIMM a buy:
-RIMM has no debt to speak of therefore resulting in a debt-to-equity ratio of zero
-strong earnings growth of 59.42%
-increased bottom line by earning $3.29 versus $2.26 in the prior year.
-The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Communications Equipment industry.
-net income increased by 58.6% when compared to the same quarter one year prior, rising from $396.30 million to $628.37 million.
Risks are numerous. Industry demand for RIMM products and services is dependent on the capital spending of cellular and broadband companies for constructing, rebuilding or upgrading their communications systems. The domestic market is evolving at a brisk pace as
cable and telecom network operators expand their video, data and voice services, commonly known as the “triple play”, to expand their subscriber base.