RIMM is worth less than Apple's iOS App Store

Brian S. Hall:

I wrote earlier today that, at it’s current price of $13.44, that $RIMM is worth a mere $7.04 billion.

Apple ($AAPL), by contrast, is worth $354 billion. More than 50X.

Per analysis from Trefis, iTunes and App Store each contribute approximately 2% to Apple’s market cap. For those doing the math at home, that means App Store contributes $7.08 billion to Apple’s market cap.

And, yes, $7.08 billion is more than $7.04 billion. »»

Unbelievable.

Research In Motion has been in a downward spiral ever since Steve Jobs did the impossible and produced the iPhone. Today, Brian S. Hall is claiming that RIMM’s market cap has fallen below the value of Apple’s iOS App Store. Ouch.

Analysts are not always right, but I suspect Hall’s numbers are close enough. RIMM is not worth much, that’s for sure.

(Source: techmeme.com)