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UBS Cuts RIM Price Target on Competitive Threat

The gloomy business outlook of RIM has forced UBS in cutting the price targets for its scrip. The share prices plunged in US stock exchange markets amidst job cut announcements made by Blackberry maker. The company is under reeling pressure from all nooks after sluggish sales of Blackberry devices. The shareholders are contemplating the possibility of Blackberry becoming a loss enterprise in due course of time. Therefore, keeping these factors in mind the investors are deeply shaken and have shifted their interest to Apple instead. Its scrip is trading at $400 and the prices are expected to scoot up exponentially in the near future with the lineup of iPhone 5.


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UBS Cuts RIM Price

The landscape looks gloomy for the future and one should look to minimize their exposure in the scrip on the move. RIM has not been able to manufacture innovative gadgets in wake of the changing end user needs. It can be attributed to the fact that it has recently announced the launch of touch phones in near future. RIIM’s maiden 7-inch PlayBook tablet isn’t doing great in the market too.

RIM’s new target is aligned to the threat from Apple and other competitors. The Blackberry maker once at the epitome of the tech market is struggling to retain its top spot in US and across the globe.

 

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