Apple’s App Store Now Worth More Than All of RIM
Apple’s App Store alone is worth more than all of Research In Motion, the maker of BlackBerry devices. This news comes from writer and smartphone market analyst Brian S. Hall who stated on his blog that at its share price on Monday morning, RIM is worth roughly $7.04 billion, while the App Store is reportedly worth around $7.08 billion. Hall’s analysis is based on RIM’s stock price of $13.44.
According to reports, Apple’s App Store is responsible for only about 2% of Apple’s market cap. Do the math, and the App Store is worth $7.08 billion. That’s more than RIM’s entire $7.04 billion company value.
After considering that Apple’s iTunes Store and App Store reportedly cost around as $1.3 billion a year to operate, and has a total value of an estimated $7.08 billion, (and RIM finished last week at a total value of just $7.04 billion) it doesn’t look like RIM can survive for much longer.
If the company cannot produce a killer product to outsell or even come close to the competitors in 2012, there may be no hope for RIM.