RIM continues to plow ahead

Research In Motion Limited (NASDAQ: RIMM) naysayers have been proven wrong again. RIM reported outstanding results last night, once again proving that selling a wireless data device is difficult and barriers to entry high.

• Revenue for 3Q2007 was $835.1 million, up 26.8% from $658.5 million in the previous quarter
• Revenue was up 49% year-over-year from $560.6 million
• Approximately 875,000 BlackBerry subscriber accounts were added in the quarter. This means BlackBerry is adding customers at or higher rate than wireless voice providers
• At the end of the quarter, the total BlackBerry subscriber account base was approximately 7 million

Skeptics have believed RIM would go the way of many fad tech products have as Microsoft Corporation (NASDAQ: MSFT) and wireless service providers introduced their own products. However, it hasn't happened. Most service providers are partnering with RIM rather than competing against them.

While Palm Inc's (NASDAQ: PALM) Treo numbers came in weak and most data points in the wireless handset business point to a poor holiday season for service providers, RIM is one area of strength.

If you do not own RIM, it would be hard to chase the stock this morning. A market correction in 2007 might present an opportunity to get into this stock. But make no mistake, this is a must follow stock.