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"Research In Motion (NASDAQ: RIMM) remains one of best long-term investment plays on the smart phone tidal wave," says growth expert Toby Smith in his ChangeWave Investing advisory.
"The stock recently fell sharply after issuing a solid, but not blowout, earnings report last night. In my view, the selloff created a buying opportunity.
"The Street's dismay was due to the pre-announcement build-up by many analysts who anticipated a blow-out quarter. When the numbers and outlook failed to live up to their billing, the stock got whacked.
"In our view, this looks like a good buying opportunity for one of the dominant players in the smartphone sector -- and one of the hottest we've identified over the long-term.
"The sheer size of the market opportunity for smart phones is compelling. Worldwide there are 3.7 billion mobile phone subscribers, while the compounded annual growth rate for upgrades to smartphones has been an amazing 62%.
"In recent ChangeWave Alliance Research Network surveys, RIMM has held up well against the iPhone onslaught and we've determined that there's plenty of room at the top of this high-growth market.
"Further, RIMM is gearing up for new product introductions in the coming months, and that will help to reignite momentum heading into the holiday season.
"Given the sharp pullback in the stock, let's take advantage of this gift ; we recommend that you position the stock for the longer term.
"RIMM is the purest and best way to invest in this powerful market shift. With the shares selling off, this is a good opportunity to initiate a position."
Steven Halpern's TheStockAdvisors.com offers a free daily overview of the favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
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