RIM isn't the only tech getting hammered...
Before everybody starts tap-dancing on RIM's grave:
Bad Day In Tech Land: HP Whacked; iPhone Production Estimates Lowered?
Shares of Dow component Hewlett-Packard (NYSE: HPQ - News) are plunging 9% after the company pared its full-year profit outlook to $5 a share, well below previous guidance of $5.20-$5.28 a share and the $5.24 Wall Street was expecting. The company lowered its revenue guidance to $129-$130 billion, down from $130-$131.5 billion and below the consensus estimate of $130.47 billion. HP's outlook for the current quarter is no better. The company is forecasting a profit of $1.08 a share on revenue of $31.1-$31.3 billion while Wall Street was expecting $1.23 on revenue of $31.84 billion.
and...
...as FBR Capital issued a cautious note regarding iPhone production.
The research firm says its contacts report production of the popular smartphone was lowered for the second quarter by 16% to 20.1 million due to weak CDMA sell through. FBR expects Apple to produce 43 million iPhones in the first half of this year, implying the company will build closer to 90 million iPhones this year, well below the previous estimate of 100-105 million.
Things are tough all over. Curiously, RIM's stock is up almost 2% today.