And now it seems Wall Street is beginning to pile on,” Goldman writes. “Peter Misek, the wireless analyst at Canaccord Adams who nailed Palm’s latest problems with a note on February 24, just a day before Palm issued its earnings warning, is at it again with a dire report Tuesday detailing new and troubling issues facing this company. He’s cutting estimates again thanks to information he’s received that Palm’s potential relationship with AT&T is souring. He says the carrier has delayed the launch of the Palm Pre and Palm Pixi from April to mid-Summer, and says a ‘long list of technical issues’ with the phones is leading AT&T to ‘sharply reduce its marketing budget for the launch.'”
Goldman writes, “Trouble with this relationship, following a complete halt in new orders from existing partners like Sprint, Verizon and others, spells big-time problems for this company… Palm is precariously perched on a rickety raft while an angry sea swells beneath it. Those rising waters are floating a lot of boats, but they threaten to sink Palm.”
Full article here.
MacDailyNews Take: That’s not a sea, Jim. That’s a bowl; a porcelain bowl.