Two Communication Giants Going Head To Head: (NASDAQ: RIMM), (NASDAQ: AAPL)
New York (December 19th, 2012) - Research In Motion Limited (NASDAQ: RIMM), the maker of Blackberry smartphones, is marginally higher in mid-day trading today ahead of the release of the company’s third-quarter financial results. RIMM will release its quarterly results on Thursday.
RIMM has been gaining momentum since November amid expectations that the launch of new operating system and two phones early next year will help the company in its turnaround efforts. The stock has gained more than 73% since November. The gains could be extended if RIMM’s third-quarter results beat expectations.
Ahead of the quarterly earnings release, RIMM is up 0.52% to $13.79 in trading today on volume of 12.44 million, which is well below the daily average volume of 41.95 million.
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RIMM’s rival, Cupertino, California-based Apple Inc. (NASDAQ: AAPL) is marginally lower in mid-day trading today after gaining sharply in the previous two trading sessions. AAPL, which is the maker of iPhone and iPad, rebounded this week after posting significant losses in the previous two weeks.
The stock fell more than 4% last week and 9% the week before. In today’s trading, AAPL is down 0.13% to $533.19 on volume of 7.25 million, which is nearly a third of the daily average volume of 23.93 million. AAPL is up more than 4.3% for the week.
AAPL rebounded this week after the company reported that iPhone 5 first weekend sales in China topped two million.
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