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RIMM: Broadpoint.Amtech Cuts Estimates; Stock Slips

March 18, 2009
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

Research in Motion (RIMM) shares are taking a hit this morning after Broadpoint.Amtech analyst Rob Sanderson trimmed his earnings estimates on the company for both the February 2009 fiscal year and for FY 2010. While Sanderson keeps his Buy rating, he notes that the company appears to have reduced its build plans and reduced component orders in the past few weeks.

Sanderson cut his FY ’09 EPS estimate to $3.43 from $3.54; for FY 2010, he goes to $3.75, from $4.25. His sales estimates fall to $11 billion from $11.2 billion for ’09, and to $14.7 billion from $15.4 billion for 2010.

“Component orders have come down over the past several weeks,” he writes in a research note. “RIMM was building for a best case scenario which has been removed.”

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