In next-generation computing, intelligent devices will control service on the network, and bandwidth -- once a profit center for telecom carriers -- will become a commodity, Capellas said.

CNN: Telecom '99: Compaq CEO predicts computing's future

"This isn't overwhelming, but it is important, since RIM has posted underwhelming cash flow over the prior few quarters, due to their patent purchases and investments in their data center, " said Jeff Kvaal, a telecom-equipment analyst at Barclays Capital.

WSJ: RIM Settles Patent Battle With Visto

We also note that the inherent growth in its cloud and managed hosting base underscores our thesis that the data center and managed hosting sectors will continue to demonstrate the best organic growth in the telecom sector.

FORBES: Rackspace Shares Bounce As Raymond James Turns Bullish