“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