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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote ()	1/20/2000 11:03:00 PM
From: dwayanu	Read Replies (2) of 54805

RIMM, hardware/software mobile internet appliance, knocking out bowling alley pins. Someone here said a couple of days ago they would consider a potential gorilla company selling a product into the bowling alley. Well, emphasis on 'potential', but here we go... Research in Motion (symbol RIMM) sells two-way email units into the Fortune 1000, based on a wireless handheld unit w/keyboard plus a Microsoft Exchange/Outlook application to relay email between the company and the devices. RIMM reports 1800 pilot projects with 94% success rate converting pilots to buyers (killer app?) Market cap $3.5 billion, $24 million rev last quarter. Merrill estimates 5 year EPS growth at 80% per. About $250 million cash on hand from a secondary offering, no debt. Institutional ownership 30%. Contracts with Intel and Merrill (users), Dell, RCN Corp. and BellSouth (distributors), and Nortel (technology exchange) (Nice set of bowling pins <g>). Merrill's research reports including software positioning discussion and financial models are publically available from international.askmerrill.com Free signup, get login/password in email, enter RIMM in Reports by Symbol box. The most recent report is 1/18/00, pre-Intel announcement (RIMM promptly blew thru 12-month target). Makes an interesting contrast with Palm's more general purpose PalmOS strategy. Happy hunting! - Dway

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