UPDATE: J.P. Morgan Color on Research in Motion PT Decrease

J.P. Morgan, which lowered its PT on shares of Research in Motion RIMM, is providing some color on the stock. “We are materially reducing our RIMM forecasts in this FQ1 earnings preview,” J.P. Morgan writes. “Though 9900 delays are not confirmed we suspect that reports of delayed shipment are accurate. We had pinned both unit and ASP hopes to this device whose on time delivery seems increasingly uncertain. “In our opinion, RIMM's window of opportunity for a comeback is rapidly closing. We believe that cloud based services from Apple AAPL and Google GOOG will begin to erode RIMM's cloud based advantage as 2011 progresses. Research in Motion closed Monday at $36.20.