Research In Motion Limited (NASDAQ: RIMM), the maker of BlackBerry smartphones, is up sharply in mid-day trading today, reversing the losses from the last two trading sessions. RIMM is gaining momentum after the company this week expanded its patent agreement with InterDigital Inc. (NASDAQ: IDCC) to include IDCC’s 4G, LTE and LTE-Advanced technology. The development comes ahead of the launch of RIMM’s much-awaited BlackBerry 10 operating system later this month.
RIMM is currently trading 3.66% higher at $11.89 on volume of 12.11 million, which is nearly a quarter of the daily average volume of 49.89 million. RIMM is currently facing stiff resistance at around $12.
RIMM’s rival Apple Inc. (NASDAQ: AAPL), the maker of iPhones and iPads, meanwhile, is down sharply in mid-day trading today. AAPL is currently trading 2.06% lower at $530.93 on volume of 12.82 million, which is more than half of the daily average volume of 20.15 million.
AAPL rose sharply earlier in the week, tracking gains in the broad market. However, the stock has failed to hold on to the momentum. AAPL is trading well below its all-time high of $705.07, which it reached in September 2012. Since then, the stock has come under pressure amid concerns over increasing competition in the smartphone and tablet market.
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SOURCE Investor Alley, Inc.