The Play's The Thing (NASDAQ RIMM) (TSE: RIM)

Research In Motion was downgraded earlier this week at Oppenheimer from Outperform to Perform. The rating firm cited M&A probability as not being likely.

However, Research In Motion has been on a tear lately, as the stock has shown bullish momentum, and has continued to rise sharply over the past week.

Demos of the company's new PlayBook tablet device sparked interest among investors. The products new capabilities such as device pairing, and full Flash support are turning heads in the business world. The new device is aimed at corporations who wish to increase employee productivity by enabling them with the high powered tablet.

The PlayBook boasts a 1GHz dual core processor, two HD cameras (3 MegaPixel front facing and 5 MegaPixel rear facing), Wi-Fi compatibility, and a host of other features. RIM intends to offer 3G and 4G models in the future. The device is set for release sometime in Q1 of 2011.

RIM: On The Move (NASDAQ: RIMM) (TSE: RIM)

Research In Motion is back up to recession levels after having been beaten down for months. The stock has leapt up in the past few trading day on talk of the new PlayBook demos. There is clearly something that investors are interested in. The PlayBook tablet comes with new features such as device pairing. BlackBerry users don't need to pay another data bill to use their tablet. They can browse the web using device pairing between the PlayBook and the BlackBerry. The PlayBook also supports Adobe's Flash and allows users to browse YouTube as if it was a desktop experience. The PlayBook is set to be released sometime in Q1 of 2011.

RIM stock has moved up over 12% in the last 5 days, yet still trades with a 10.5 PE ratio.

Eat into This(NASDAQ: GOOG) Delicious (NASDAQ: MSFT) Apple (NASDAQ: AAPL)(NASDAQ: RIMM)

Apple Inc (NASDAQ: AAPL) came out with an incredible quarter today. The company earned $4.34 billion on revenue of $20.3 billion. This smashed wall street expectations whose analyst estimated $18 billion in revenue. A record 3.9 million Macs were sold, and 14.1 million iPhones. The company had stated that it would have sold more iPhones had they produces more iPhones. The street seemed to be disappointed with 4.2 million iPad sales, even as Apple ramps up iPad production. Key stores such as AT&T and Verizon have yet to receive the iPad. AT&T receives the device in its stores on October 28. The iPad demand is large, but the devices seem to still be in short supply in other countries. Apple also has come out with a lineup of new iPods which should help sales increase for next quarter which includes the holiday season.

Apple shares fell 6.13% to $298.50 in after-hours trading as profit takers and short sellers created a negative atmosphere out what appeared to be an outstanding quarter.

"Apple goes KOBATA again," said Allan Edwards, co-CEO of The Markets Are Open "There's just no stopping these guys." KOBATA is a rarely used term on Wall Street standing for "knocked it out of the ballpark above top anticipations." Edwards continued that it is very rare to see a KOBATA in back to back quarters.

Apple also blew past Research In Motion for the first time, outselling them iPhone vs BlackBerry. Steve Jobs also commented that Android was his next target. Microsoft shares also dropped on the news.

To read Kibbens' full report, click here.