Friday, September 30, 2005

Blackberries: Unhealthy Fruit Group

On Wednesday night, we had to pull the trigger on Research in Motion.

Two sources of worry: First, Mr. Softee linked up with PDA rival Palm on Tuesday as part of a huge Treo OS deal.

That'll allow the two companies to build off and leverage what we think is an attractive platform.

Second, on Wednesday the Blackberry makers posted lower than expected subscriber numbers.

RIMM was as hot as a pistol for quite some time -- but it's day has arrived.

With the economy in dire straits, there is no telling how much future Blackberry sales may suffer from falling disposable incomes.

It's time to cash out of RIMM and move on in search of better fruit, we think.

The economy is slowing down, meaning investors should be easing up on their cyclicals and rotating into more secular, defensive stocks.

That's why we're buying Proctor & Gamble hand over fist.

Perennial paramours of PG, we're upping our price target to $65.

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