Analysts turn sour on Palm stock, cite weak sales on Verizon

Chris Ziegler
C. Ziegler|02.24.10

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Analysts turn sour on Palm stock, cite weak sales on Verizon
It's unclear how the data's being collected, but a handful of analysts have started backing away from Palm this week on some information that the phone's webOS debut on Verizon has proven something less than bombastic at the sales counter. Of course, it's no secret that Verizon has poured less money, time, and energy into its marketing of the Pre Plus and Pixi Plus than Sprint has with the original versions, but Palm and the market analysts following its progress may have been banking on the unspoken "if only this were on Verizon" factor to counteract that a bit. The biggest concern seems to be that Palm's on the cusp of being washed into irrelevancy by a massive Android push, with a couple stock downgrades and price target cuts making their way into the hearts and minds of the market makers. Again, it's not clear exactly where the Verizon sales figures are coming from -- and we'd be remiss in thinking that analysts always (or even usually) know what they're talking about -- but this could be an early sign that the tide is turning. Come on, Palm: more carriers, more hardware, more features.

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