Wednesday
BlackBerry General, BlackBerry NewsRIM supplier Marvell stock downgraded
The company that manufactures parts for RIM BlackBerrys, Marvell Technology had their stock downgraded yesterday due to concerns that it had lost a major portion of their business.
It appears that Marvell lost the chip design to Freescale, for the coming Javelin design. On that basis, stock analyst Adam Benjamin of Jefferies & Co. downgraded Marvell’s to a “hold” moving it from a “buy” position.
What does that mean for RIM?
The exact outcome is unclear, but it does make one wonder how the Javelin will run any different than previous devices.
Another stock analyst, Craig Berger of Friedman, Billings, Ramsey & Co., was more optimistic on Marvell’s future with RIM, stating, “We believe Marvell’s unit shipments to Research In Motion could grow by 60%-80% this year.”
Links: MarketWatch.com
Post Tags: Freescale, Javelin, Marvell Technology, RIM, rimm
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