So here’s the thing about the smartphone market: there are way too many of them.
The year 2010, JMP Securities analyst Samuel Wilson asserted in a report this morning, “should be the year of the shakeout in smartphones.” He believes most of the market share and carrier focus will consolidate around three vendors.
Intel shares this afternoon are getting a lift from an upgrade by JMP Securities analyst Alex Gauna from “Market Perform” to “Market Outperform,” with a $24 price target.
Following on a much-stronger-than-expected Q2 report last week, Intel, Gauna says, should continue to gain from better-than-expected results of its customers’ sales of notebook computers and server computers.
Novatel shares are down hard this morning after JMP Securities analyst Samuel Wilson downgraded the stock to Market Underperform from Market Perform.
For the year through yesterday, Novatel shares had rallied 34.7 percent; Wilson notes that the wireless networking equipment company has gotten a boost from its role providing components to the Amazon Kindle 2 e-book reader. But Wilson says the Kindle 2 will contribute at most $10 million a quarter to Novatel’s revenue, “not enough to fill the hole left by the drop in demand in the PC and USB adapter business.”
Ariba, which helps businesses manage spending via its software solutions, got a cautionary note today. The service business may not fare as well as analysts were assuming, given that product upgrades and extensions are met with more caution in the current economy. Also, Ariba has 170,00 square feet of office space it needs to sublet, with a shrinking pool of potential tenants–which could end up costing the company $150 million over the next five years.
Half-a-billion-dollar (market cap) Rightnow Technologies (RNOW), which sells software over the Web to automate customer support, could be threatened by this morning’s announcement from Salesforce.com (CRM) that it’s buying privately held Instranet for software to expand in the call center market, according to a report out today from JMP Securities analyst Patrick Walravens.
A quick update on my post yesterday regarding rumors that Extreme Networks (EXTR) might be acquired by privately held Enterasys.
In a research note yesterday, JMP Securities analyst Samuel Wilson wrote that “sources suggested to us that at least one interest party has stepped forward to begin serious discussions with the company.”
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