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Sat, Nov 21, 2009 - 03:57 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Beleaguered Palm shares drop on competition fears; S&P cuts price target, ‘Strong Sell’ rating

Wednesday, November 04, 2009 - 02:43 PM EST

"Shares of smart phone maker Palm Inc. fell Wednesday as fears of rising competition picked up," The Associated Press reports.

"Standard & Poor's Equity Research analyst James Moorman chopped his price target for the company's shares to $10 from $12, telling investors in a note that 'the upcoming holiday selling season will be very competitive for handset vendors,'" AP reports.

"He reiterated a 'Strong Sell' rating on the company," AP reports. "Palm shares fell 61 cents, or 5.4 percent, to $10.75 in afternoon trading.

Full article here.

MacDailyNews Take: Well, now, let's fire up the ol' iCal and see what pops up...

If you're buying (Palm shares) now, definitely what you're looking at is that they're going to have the most valuable asset in the industry. At some point, somebody will want to pay a premium for that. From a products perspective, the impact on the market is probably as important as iPhone. - Pacific Crest analyst James Faucette, June 03, 2009

From ludicrous fantasy to dismal reality in 5 short months. Nice "analysis," Jimmy. Here's how it's done:

In our opinion, there isn't room, nor is there a need for Palm in a market already crammed full of iPhone wannabes, to say nothing of the iPhone itself. There are more than enough pretend iPhones, thanks... Palm simply does not have ~~the~~ any resources which with to compete against Apple. - MacDailyNews Take, January 09, 2009

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Nov 04, 09 - 02:48 pm Comment from: Gabriel

Techdirt says it's "Time For Palm To Drop WebOS And Embrace Android"

Nov 04, 09 - 03:04 pm Comment from: Deus Ex Technica

Another fine MDN smackdown!

Nov 04, 09 - 03:14 pm Comment from: krquet

But that real question to ponder is, what did Laura Goldman predict about Palm's future against Apple?
Show me that on your iCal MDN, if you can.

Nov 04, 09 - 03:14 pm Comment from: Joe

Hahaha...iPhone killer. Funny thing is, we're now hearing the EXACT same hype about the Droid now. Apparently people are going to dump the iPhone en masse foe a heavy, blocky, chunky phone that doesn't even have multi-touch. All because, apparently, people are just dying to tinker with their phone's operating system all day.

Nov 04, 09 - 03:26 pm Comment from: Kevin J. Weise

That's the way to go, MDN. Teach Jimmy how to think without his dipstick.

Nov 04, 09 - 03:30 pm Comment from: HughB

Palm Pre's were pretty good against iPhone, there were enough Apple haters to be fairly successful. But the Droid is a real threat to take those Apple haters away from Pre. It will be interesting to see the battles between the G phone makers as iPhone continues unabated.

Nov 04, 09 - 03:37 pm Comment from: kirkgray

BUT... But... but... they have MULTI-TASKING! Don't you understand?!? MULTI-TASKING for gawd's sake!!! Nobody will want an iPhone when they can have multi-tasking!!!

Nov 04, 09 - 03:42 pm Comment from: goddess

What was their stock trading for in June?

Nov 04, 09 - 03:42 pm Comment from: Jubei

Buttttttt I can play Pandora in the background. So there!

Yeah whatever.

Nov 04, 09 - 03:48 pm Comment from: alansky

Palm doesn't need competition in order to fail. They can do it all by themselves. Arrogance and incompetence are a bad combination.

Nov 04, 09 - 03:49 pm Comment from: HMCIV

I think despair.com said it best.

http://despair.com/economics.html

Nov 04, 09 - 03:54 pm Comment from: x

Love that iCal MDN. Keep em coming

Nov 04, 09 - 03:56 pm Comment from: January 24, 1984

@HMCIV: Gotta love those guys. I have many of their t-shirts. How about this one:

http://despair.com/mis24x30prin.html

I bought the cards, and sent them out as Christmas cards.

Nov 04, 09 - 04:28 pm Comment from: jocknerd

I still wish I had bought shares of Palm last December when they were selling for $1.42 on December 5. Peaked at $17.39 on September 29.

Nov 04, 09 - 06:48 pm Comment from: NeilDeWheel

I like

http://despair.com/government.html

Nov 04, 09 - 11:47 pm Comment from: Macarina

looks like the MDN fuckwads are out in droves today.

Nov 05, 09 - 03:17 pm Comment from: Hm...

@ NeilDeWheel

And here's yours: Large Groups

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Sat, Nov 21, 2009 - 03:57 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Beleaguered Palm shares drop on competition fears; S&P cuts price target, ‘Strong Sell’ rating

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Sat, Nov 21, 2009 - 03:57 AM EST — AAPL: 199.92 (-0.59, -0.29%) | NASDAQ: 2146.04 (-10.78, -0.5%)

Beleaguered Palm shares drop on competition fears; S&P cuts price target, ‘Strong Sell’ rating

Reader Feedback: = registered.Unregistered users: Feedback from multiple usernames are subject to deletion. Off-topic and posts from suspected astroturfers will be removed.

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