Motorola Inc. (NYSE: MOT) was hit with downgrades late in the week. Some analysts think that it sold only 40 million handsets in the fourth quarter. Rival Nokia Corp. (NYSE: NOK) usually moves about 100 million. The Razr's success is now just a memory.
Citi Investment Research lowered its price target on Motorola from $22.50 to $18.50. Most shareholders wish that the stock would hit the lower number. In after-hours trading on Friday, the shares fell to $15.
There has been much talk about breaking the company into pieces. When the company traded at $20, that was less likely. But, the MOT market cap is now only $34 billion.
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