Remember that wild January day a bit over a year ago, when Palm debuted webOS and
shares went wild? Well, after months of setbacks in the sales arena, and a rough
$22 million Q3 loss announced yesterday, Palm's stocks took over a 25 percent dive today, dipping below $5 for the first time since the Pre was announced. At the time of this writing things seem to be leveling off a bit, but it's the most damage the shares have seen since October of 2009. Morgan Joseph analyst Ilya Grozovsky has downgraded the stock to "sell" and set a target price at $0. Canaccord Adams analyst Peter Misek has set a similar target, saying that he sees a "complete lack of earnings visibility." So, candlelit vigil time? Imminent buyout? Riots in the streets? Hardly. Palm's own Jon Rubinstein said in the earnings announcement that the company is "looking forward to upcoming launches with new carrier partners" which should (hopefully) brighten spirits a bit, and we haven't heard a single credible buyout rumor, despite plenty of wild conjecture. There are also still a pair of analyst hold outs (just two, to be exact) that have buy ratings on the stock, reports
Thomson Reuters. As for rioting? Well, that's up to you. No matter what, Palm has some serious soul searching to do.
posted March 19th 2010 2:59PM
Live Palm...Live damn it!
Don't you give up on me! Fight, dammit!
@southern78
Time to incorporate the best UI elements of web os into android...schmidt are you reading?
@southern78
It doesn't get any easier!
@southern78
:(
@southern78 Poor palm... when it rains, it pours!
I hope they make a strong comeback and get the acceptance and success they are worthy of!
@southern78 You're not gunna die Palm! Not on my watch!
@southern78 Palm, I told you a zillion times and I'm going to tell you again. I have money here, sitting on my table waiting for that Unlocked GSM Pre/Pre Plus. It's been sitting there for a year but you're not coming to get it.
Just release the f**king unlocked phone already. Please. You need that money.
@ToniCipriani
How many you want? I can send them all day long to you from Germany(nobody's buying them), they're 350 Euro but you'll have to deal with QWERTZ.
@ToniCipriani so true man, so true.
Palm screwed up big time in just releasing a CDMA based Pre. besides the US, NO ONE USES CDMA!!! (well a few other countries do but GSM is what most of the world uses).
Plus sprint?? really? i was waiting for GSM Unlocked version myself but thankfully google and htc made my day and brought the Nexus One right on over to T-Mobile.
Palm; you snooze, you lose!
@southern78 I know it this is sad we are pulling for ya don't let a great OS die.
@seamonkey420 dude, tmobile garggles my nads. sprint's voice coverage is better and they have rolled out 3g nationwide. great "customer service" is great and all, but how good can your customer service be when your service sucks?
besides there are GSM versions in germany and the UK. so tell it like it is. there isn't yet an american GSM version.
Does this mean I should sell the stock?
@HerbieDerb A little late?
@ToniCipriani _ Exactly!!
But No. Instead they decide to launch with Sprint and that crap 90's CDMA Tech? WTF?! Once Verizon leaves CDMA for greener LTE pastures Sprint will become the "who gives a shite" network even for 4G!!
CDMA - (only good in NA, SK, RU), WiMax - (planed for NA and, what, RU?)
Palm you sent your Pre daughter to the prom with the wrong guy. A yellow spiked hair, Boost iDen toting wigger, spells looser every time Sayin...
@southern78 GO TEAM DAMMIT!!!!11!!1!!1
@southern78
Palm is going to fall so hard, they're going to make a crater that makes the Grand Canyon look like a sidewalk crack. This company should have died a long time ago. The day that Ed Colligan declared that the computer boys from Apple will not just walk right in, I knew with that kind of attitude they were heading for a tremendous fall. It would be like a pygmy marmoset telling a male alpha gorilla to get out of its territory.
After trying to steal iTunes connectivity from Apple so they wouldn't have to develop their own software was the final nail in the already made Palm coffin. They became nothing more than parasites at that point. That kind of arrogance from a company does not deserve to continue.
Palm is so financially weak right now that a light breeze could blow into bankruptcy. If Rubenstein tries to run back to Apple, they should close the door on his face. He thought the keyboard and multitasking on the Pre would be the death knell for the iPhone. What a joke. A typical case of a samurai tripping and falling on his own sword.
Palm was once the leading company of PDAs and they made some pretty decent products. However, they sat back and took a long vacation and the smartphone world passed them by. They've already shot their WebOS wad to no avail and there will be no resurrection this time due to terminal lack of finances. RIP, Palm.
Oh, and Palm investors, please try to sell your shares before the stock reaches $0. That means, get out before next week.
Why did Palm choose Sprint as their carrier? Sprint? Serious?
@Frankenstein Black Uhh what? You do realize that WiMAX is quite popular outside the US? It's expected to cover nearly 1 billion people by the end of 2011.
http://www.engadget.com/2010/02/19/wimax-will-cover-one-billion-people-in-2011-coming-soon-to-nyc/
Also, here's a map of all the WiMAX networks in the world.
http://www.boygeniusreport.com/2010/02/17/wimax-growth-in-the-us-lags-worldwide-growth-explodes/
So care to rephrase your statement?
@HerbieDerb Dump that turd quick. Palm has way too much competition. In fact they aren't even in the game. They will be permanently benched.
@Frankenstein Black
Say what you will it about CDMA but it's not going anywhere anytime soon. CDMA legacy networks will operate in tandem with 4G networks for the next decade or so.
@GMoney
Cuz they didn't have a choice, you moron.
@etwashoo North American UMTS... Telcel got one but it's hard locked with no unlock codes in sight.
@southern78 To yourself and everybody else wishing for Palm's survival why not wait for the stock to go lower and put your money where your mouth is. With all the likeminded commenters on engadget (and other sites) who believe they could have done better, why not buy Palm's remaining stock, you'd have your say and be supporting a company you love.
If the stock goes to
@Oghowie @ purge68
jk guys.. Im not that stupid to have a POS stock like this one.
Ive know this for a looong time.. Palm = IMMINENT FAIL
@ToniCipriani I think unfortunately for Palm they're just not very good at rapidly releasing phones like that. Honestly it sounds like they need a lot more manpower-the horrible mess with the SDK (I signed up like a bajillion months in advance and was totally confused by the utter lack of an SDK until way, way, late) made it pretty obvious. For them to really thrive they have to execute on multiple fronts at the same time.
What they need is a partner that actually is good at this kind of thing-rapidly executing phones on multiple radio systems with the manpower to simultaneously update the software side to support everything...even on multiple operating systems *cough*HTC*cough*
Of course the only real question is why such a partner wouldn't just leave Palm out to die...but then again maybe a certain partner could benefit from Palm's patent portfolio for defending against frivolous software lawsuits by countersuing. Ahem.
/me riots.
@VanillaSperm Except Palm and numerous other Android manufacturers never said their devices were "iPhone killers".
@VanillaSperm Palm never came out saying they were an "iphone killer".
Actually, Roger McNamee, major money guy behind Palm, said this about the Pre launch:
“You know the beautiful thing: June 29, 2009, is the two- year anniversary of the first shipment of the iPhone. Not one of those people will still be using an iPhone a month later.”
If that doesn't say "iPhone killer," I don't know what does.
@HotFuzz Yep, I remember that. Sometimes people should just let their products speak for themselves. Good luck to Palm though, I hope they make it through this.
@HotFuzz Indeed. McNamee is a clown.
very attractive to buy stock now at these uber cheap prices...
if you have the balls for it.
The stock only has value if the company behind it has value or earning potential. Palm may have neither. Time to restart the deathwatch.
I'm not worried about Palm's share price. webOS is the best mobile OS. Eventually, more of the world will adopt it.
@Kamalot - Is WebOS even open for other companies to use?
@scoobydooby I assume he means consumers, not companies.
@Kamalot
More of the world would buy it if it were available for more of the world, not just cdma....
@Kamalot
I agree. What will likely happen is that they will open up webOS to other device makers, get some free cash.
The marketing campaign has been horrid. Driod had an amazing campaign that blew it up at launch. I haven't seen one good pre/sprint commercial.
@Kiron
So like the GSM versions in UK, Germany, France, and Spain ?
Id buy a palm WebOs phone....just make it like HD2 with 32 gig storage
@aaronbustillos
I agree, the design of the devices is very feminine. I really wish they had a more HTC feel and look to them with WebOS running on them. I was loving this OS war that was going on, but I think Android is going to start pulling away if Apple and Palm don't step up.
Android 2.1 is pretty much sex on a stick.
Unless you're a company thats receiving a government bailout or is working on an (Insert Name Here) iTard device, why bother being public if all it means is to get burned by short selling speculators?
Speculators? I think investors know something you seem to be in denial about: Palm has very little chance of surviving.
@TheStupidOne
You mean the speculators that also drove the price up to $17+ last year? It works both ways.
@TheStupidOne
They do it for the money. It's no secret that running a public company sucks. Going public gives you the ability to attract great sums of capital.
iPhone killer... ya...
anyone know CPR??
@Prospero I am a lifeguard! I will save the drowning stock!
@Prospero : Cardio Palmular Resuscitation!