How Much Is Palm Worth?

Editor's Note: The Fool has removed a reference to varying price-to-sales ratios since different smartphone companies use differing accounting methods for their sales. The Fool regrets this error.

Last week, Citigroup (NYSE: C  ) threw in the towel.

Months of betting against the fortunes of smartphone pioneer Palm (Nasdaq: PALM  ) hadn't paid off. Despite middling sell-thru of Pixi and Pre smartphones on Verizon (NYSE: VZ  ) plans, strong competition for consumer dollars from everyone from Research In Motion (Nasdaq: RIMM  ) to Apple (Nasdaq: AAPL  ) to Google (Nasdaq: GOOG  ) , Palm just would not die.

Even worse for Citi's sell-thesis, reports were beginning to filter out that the FCC would soon approve the Pre for distribution by AT&T (NYSE: T  ) . With more than 45% of Palm's float currently sold short, that set up the nightmare scenario of a short squeeze wiping out all the gains Citi had accumulated from its sell-bet, and adding losses to boot.

Never mind that AT&T cannot possibly salvage Palm's business. (As I argued back in September, AT&T lives and dies by the success of the iPhone. No matter how great Palm's products, AT&T's simply not going to give other phones the kind of support it gives Apple. Ain't gonna happen.) With this much negativity surrounding Palm, any good news whatsoever could panic the shorts, causing a cascade of positions closing, buy orders placing, and Palm stock rising.

Reexamining its assumptions, Citi concluded that there was every risk that the stock would rally past its $10 price target, and little chance that Palm would drop further -- and pulled its sell rating on Palm. Investors, buoyed by Citi's capitulation, rushed to buy Palm, sending the shares up 2%.

That was a mistake. Far from being worth $10 a share, Palm could soon be priced closer to $0.

Palm investors need a slap upside the head
How can I say this? How can a company that millions of investors value at $1.6 billion be nearly valueless in my opinion? The way I look at it, there are two ways to value Palm. You can value the company as a going concern -- a business that makes and sells products, collects revenue, and earns profits. Or if the company proves incapable of earning a profit, you can assume that rational management will exit the business -- either by selling out, or shutting down. Unfortunately, under either scenario I don't see any worth in Palm.

If Palm lives ...
Let's tackle the going concern hypothesis first. Over the last 12 months, Palm has racked up a cumulative $430 million in losses. It's burned through $213 million in free cash flow -- and far from turning its business around, as bulls hope, Palm lost money in three of the last four quarters, while managing to post a slight positive cash flow last quarter amid strong smartphone spending and a new product launch.

This, friends, is no way to run a business. Faced with similar situation in 2005, the folks at Siemens actually had to pay someone to take their money-losing cell phone division off their hands. Motorola faces a similar conundrum with how to spin off its struggling cell phone division. Why Palm insists on continuing to stay in this race, even though it's obviously lagging -- and stomping all over shareholder capital for the privilege -- is beyond me.

If Palm dies ...
But what, you ask, is the alternative? Well, Palm could cash out and sell the business to someone who's got a better idea of how to run it. Logically, any of the major cell phone players should jump at the chance to "take out" a rival and decrease the cutthroat competition in this business. But for this exit strategy to make sense to an acquirer, Palm would have to be priced attractively.

But who’s left to purchase Palm at these share levels? Microsoft's all-in move with Windows Phone 7 limits the possibility that it would stake a mobile rebound on scooping up Palm, and in the face of North American struggles, Nokia has been resistant in picking up WebOS. Instead, the company has recommitted to an overhaul of its Symbian operating system.

Shareholders won't like that option, of course -- but it may be their best hope. Consider that Palm lost more than one-quarter of its market share between September and December 2009, falling to a near-industry-low 6.1% share. (And with Google's Android platform right behind them, and doubling its share over the same time period, I'd bet that even as you're reading this, Palm is slipping into dead last place in comScore's rankings.)

Quibble if you will at the methodology of any market-share rankings, but continued evidence suggests that Palm's smartphones aren't being adopted avidly enough to effectively compete with the 800-lb. gorillas of the mobile world. Palm's long said the smartphone market is large enough to accommodate several large players, and it could survive at a sliver the market share of its rivals. However, with the promotional expenses involved with large smartphone rollouts and evidence of downward pricing pressures, investors clinging to relevance at low market share are in for a rude surprise. At this rate, Palm could eventually meet its "BenQ moment" -- and be forced to shut down entirely.

Palm is empty
Now, glass-half-full folks will argue that even this situation doesn't mean a $0 share price. They'll point out that Palm's got $202 million in net cash, so even in a total doomsday scenario, if you divvy that up among the company's 167.6 million shares outstanding, the stock's worth at least a buck-twenty.

Unfortunately, Palm's burning through its cash at a breakneck pace. Cash-burn reached $213 million over the last 12 months; unless something changes soon, Palm could be facing more capital raising rounds within the year. Absent a buyout of the company, I think the company's not worth a penny. While its WebOS is surely worth more than that to some company out there, and we'd shouldn't realistically see that zero value event come to fruition, I'm not buying at today's prices or anywhere near them.

Foolish takeaway
You can do the math, Palm's not up to its current value, and without a turnaround I don't see on the horizon should sink even lower. But that's just how I see it; feel free to disagree in the comments section below.

Fool contributor Rich Smith has no position, short or long, in any stocks named above. Google is a Motley Fool Rule Breakers selection. Apple is a Motley Fool Stock Advisor pick. Microsoft and Nokia are Motley Fool Inside Value recommendations. Motley Fool Options has recommended a diagonal call position on Microsoft. The Motley Fool has a disclosure policy.


Read/Post Comments (34) | Recommend This Article (20)

Comments from our Foolish Readers

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  • Report this Comment On February 17, 2010, at 5:20 PM, marv08 wrote:

    That was spot on.

    Nobody will buy Palm. Not even at a reasonable price, which would be between 2 and 4 USD per share. It just does not make sense for any company. WebOS is a bit more polished than Android, agreed, but it lacks developers and Android is free – Android wins. No need for any OEM to go through the hassle of integrating a different corporate culture, watch frustrated key staff leaving after the purchase, etc. They will vanish for free and other than WebOS, they have no assets worth a dime. Not everybody loves Google, but not having to deal with the Bonos and McNamees of this world is priceless.

  • Report this Comment On February 17, 2010, at 5:30 PM, CKCJim wrote:

    Painful to admit, but I must also agree with the assessment. I'm a committed Palm user for many years, and so far I'm a big fan of WebOS. But without a seemingly impossible leap in market share AND continued traction to grow the developer (and thus app) community I don't see how Palm can hope to compete against Apple/AT&T and Google/Android.

  • Report this Comment On February 17, 2010, at 6:57 PM, ash1348 wrote:

    You are either a real FOOL, or trying to deceive and mislead your readers. You buildup your whole case around PALM’s valuation based on its revenue multiple. You claim that PALM’s P/S is more than 5x!! I assume you basically took what is on Yahoo for PALM’s P/S ratio without any due diligence. Yahoo’s P/S is based on ttm revenue of $323M. Last quarter alone PALM booked more than $302 MILLION in revenues. PALM’s May 2010 revenue estimate is $1.6 BILLION (with B) which implies P/S of 1.1x. Yahoo’s revenue is based on their SEC filings in which PALM is using a different revenue recognition method of accounting. EVERYBODY who owns and knows PALM well enough knows about this. Please go read their SEC filings before writing any article. How on earth you could have missed this?

  • Report this Comment On February 17, 2010, at 7:15 PM, badjokes wrote:

    this website seems biased against palm. all the articles i've seen here about palm are negative..

    palm just started selling the pixi and have released there webos devices on verizon and will be releasing on many carriers here and over seas within this year.

    an update for webOS (1.4) is coming out soon and will greatly improve all current webos devices. they will have full flash support too. they will also have refreshed 2nd gen devices sometime soon

    it is absurd to say that palm will die now, webos already has roughly 3% of market share. they will continue to decline of course as the old palmos devices fall off but within a year webos will be much stronger. they haven't even released PDK for developers yet, but when they do, you will see many more useful apps.

  • Report this Comment On February 17, 2010, at 8:19 PM, stts wrote:

    Not saying how they treat other stocks, but on this one, they are definitely biased and super bearish. This is like a new company with huge debt and a great new product they are selling in a very bad economy. Timing was definitely totally against them. But, they are slogging along. Certainly, the fundamentals, are of a startup with shares priced for success. But fundamentals are only PART of the story. PRICE ACTION must bare serious consideration. And I mean SERIOUS consideration. Just like this web site, you would have to be an IDIOT to ignore the ramifications of a 45% short float. Eee Gads. How can you stand being short for months on end in the face of that shear melt up potential. Thats exactly why Citi bailed. They are smart financial wizzards. Any friggin good news now that they got Ver and ATT on board is going to start a friggin rocket launch. Does anybody remember AIG????? They are bancrupt. But the stock still launch way more than 5x wiping out all those shorts.

    Certainly this site is screwing their audiance by blinding them to this VERY REAL threat to selling. But then again, thats what a stupid biased website thats trying to make their trades work, does.

    I personally am not a friggin idiot and will not be short this time bomb. Ill buy dips and sell pops. The fundamentals forbid this from being an investment, but the huge short forbids it from me joining that crowd. The short room is packed full.

  • Report this Comment On February 17, 2010, at 8:21 PM, stts wrote:

    Not saying how they treat other stocks, but on this one, they are definitely biased and super bearish. This is like a new company with huge debt and a great new product they are selling in a very bad economy. Timing was definitely totally against them. But, they are slogging along. Certainly, the fundamentals, are of a startup with shares priced for success. But fundamentals are only PART of the story. PRICE ACTION must bare serious consideration. And I mean SERIOUS consideration. Just like this web site, you would have to be an IDIOT to ignore the ramifications of a 45% short float. Eee Gads. How can you stand being short for months on end in the face of that shear melt up potential. Thats exactly why Citi bailed. They are smart financial wizzards. Any friggin good news now that they got Ver and ATT on board is going to start a friggin rocket launch. Does anybody remember AIG????? They are bancrupt. But the stock still launch way more than 5x wiping out all those shorts.

    Certainly this site is screwing their audiance by blinding them to this VERY REAL threat to selling. But then again, thats what a stupid biased website thats trying to make their trades work, does.

    I personally am not a friggin idiot and will not be short this time bomb. Ill buy dips and sell pops. The fundamentals forbid this from being an investment, but the huge short forbids it from me joining that crowd. The short room is packed full.

  • Report this Comment On February 17, 2010, at 9:08 PM, wwofool wrote:

    Palm is projected to have 1.6billion in sales for fiscal year ending May2010. Palm's current market cap is 1.6billion. When I do this math I get a PS of 1, not 5. So I do not understand where Rich Smith gets his numbers when he states "With Palm shares selling for more than five times sales today".

    Can anyone help me understand?

    So I disagree strongly with the author and the posts. I think Palm is a steal at <10, because Verizon has picked up the PrePlus, and does NOT have the iPhone. Verizon is so far superior as a cellphone company to AT&T it's not funny.

    The 73million shares shorted will help the stock rocket later this year.

  • Report this Comment On February 17, 2010, at 9:09 PM, wwofool wrote:

    Palm is projected to have 1.6billion in sales for fiscal year ending May2010. Palm's current market cap is 1.6billion. When I do this math I get a PS of 1, not 5. So I do not understand where Rich Smith gets his numbers when he states "With Palm shares selling for more than five times sales today".

    Can anyone help me understand?

    So I disagree strongly with the author and the posts. I think Palm is a steal at <10, because Verizon has picked up the PrePlus, and does NOT have the iPhone. Verizon is so far superior as a cellphone company to AT&T it's not funny.

    The 73million shares shorted will help the stock rocket later this year.

  • Report this Comment On February 17, 2010, at 11:07 PM, beardedguy140 wrote:

    this article is painfully biased.

  • Report this Comment On February 18, 2010, at 1:07 AM, maxvalues wrote:

    i have no idea what its worth. but back at $15 i bought APRIL 11 PUTS ... i sold them when it fell below $10 so someone else can take the risk. ill take the profit. when the FULL STO gets oversold on the WEEKLY chart im out in many cases.

    are they doomed? im thinking every toy maker is doomed within 5 years from now. this dead cat bounce in the markets will conclude soon if has not already. the market is drunk on stimulus. my mother went on Vacation because her business is failing and has more time. that explains the bump up in travel related stocks. but once all those unemployed vacationers realise they wont be included in this new world of less production and consumption they wont be flying when they run out of savings. SAD .. BUT HOW I FEEL.

  • Report this Comment On February 18, 2010, at 1:36 AM, clibou wrote:

    Research worthy of Lehman Bros.

    Srsly - you've used th Touch capabilities of Nokia / Blackberry and see no value in Palm.

    And the "ZunePhone" is reworked IE6

    And Elevation are dumb asses....

    And ...

  • Report this Comment On February 18, 2010, at 8:09 AM, lambo21 wrote:

    SUNNYVALE, Calif. (TheStreet) -- PALM(PALM Quote) shares surged in morning trading on Tuesday after Deutsche Bank raised its price target for the smartphone maker, which analysts say could be acquisition bait.

    Describing the company's webOS as a "valuable asset," Deutsche Bank raised its Palm price target from $19 to $20. The smartphone maker, which competes with Apple(AAPL Quote), Nokia(NOK Quote) and Research In Motion(RIMM Quote), could offer upside to investors, according to Deutsche Bank analyst Jonathan Goldberg, in a note released on Monday.

    "If they can grow their installed base of users and keep the carrier momentum going, this value should become more apparent," he wrote. The analyst, who gave Palm a buy rating, added that the company's App catalog is larger than Nokia's and Microsoft's(MSFT Quote).

    Set against a backdrop of increasing competition, Deutsche Bank's Goldberg feels that Palm could be a takeover target.

    "While there is ample competition, we think recent developments have made electronics vendors realize they need to control their own destiny in the smartphone space," he explained. "We think there is real potential for Palm to be acquired in the next two years."

    Deutsche Bank's Goldberg nonetheless believes that Palm's long-standing partner, Verizon(VZ Quote), can help bolster the company's numbers.

    "Palm does not need to blow-out at Verizon to succeed, just good execution," he said. "We think they can sell over 600,000 units into Verizon this quarter, and investors need to see solid, sequential growth in sell-through."

    Just a few weeks ago, Deutsche Bank warned that investors were overreacting to reports that Palm had cut its orders to suppliers of its smartphones. Now the maker of the Pre and Pixi phones is gearing up for the tech spending rebound.

  • Report this Comment On February 18, 2010, at 8:17 AM, lambo21 wrote:

    * Palm, Inc. (NASDAQ:PALM $10.39; Buy)

    Merriman Curhan Ford Initiates Coverage

    Palm has pioneered the mobile device and the smart phone. Its latest iteration with the Pre and Pixi, based on its robust and critically lauded WebOS, has truly revitalized the company. While the opportunity exists to replicate the iPhone's market success and profitability, pitfalls remain. Yes, the smart phone market is exploding with projected 30% growth for the next several years, and yes, non-traditional suppliers (Apple, Palm, RIM, etc.) are garnering bigger chunks of market share. However, incremental distribution (more carriers) and, importantly, more applications (more than 1,600 at present) will be required to achieve success. We estimate breakeven at approximately 1.4M units and EPS power of $1.00 at approximately 3M units per quarter (vs. a recent 800k). We expect a rapidly expanding operator base.

    Merriman Curhan Ford Initiates Coverage

  • Report this Comment On February 18, 2010, at 8:37 AM, lambo21 wrote:

    Rich Smith sounds like you were short maybe at 3 or 4 dollars how did you enjoy the ride up to 18?? Obviously you have personal been burned and lost money Try your parlor tricks with another company PALM is in the hottest sector in the market and will remain so. You know who Jon Rubinstein is look em up hes a genius unlike you buddy

  • Report this Comment On February 18, 2010, at 9:44 AM, badjokes wrote:

    @lambo21

    +1

  • Report this Comment On February 18, 2010, at 10:44 AM, miteycasey wrote:

    Having had 3 treo smart phones(600,650, 750W) the iphone is a superior product.

    Palm is no longer a market leader. I tried the Pre, but it's a knockoff of the iphone.

    Why anyone would buy a Pre v. iphone is beyond me(AT&T aside).

    I have no positions in ATT, APPLE or PALM.

  • Report this Comment On February 18, 2010, at 1:55 PM, foolexaminer wrote:

    Wrong observation. There's a lot going for Palm now. From their start of potentially 40 million subscribers through Sprint, they now have an additional potential of 75 million subscribers through Verizon. Now they're headed for AT&T allowing them to achieve an added potential of 70 million subscribers. Being able to put their Palm Pre/Pixi presence across the top 3 network carriers in the nation will no doubt increase Palm's value in the next couple of months. webOS has proven to be a popular development platform even across developers. Since January their app catalog count was at 1000, in just a month and a half, they have skyrocketed to another 500 apps instantly! Even Blackberry sees palm's app trend and has decided to follow the same Palm strategy by acquiring the Safari browser (same browser Palm uses) to allow Blackberry development just as appealing. Afterall, at the fast rate Palm Apps are being released, available Palm apps will surpass Blackberry apps in a matter of just 2 months! And in the next 2 months, Palm will finally release their SDK to the public to allow 3D Hardware Accelerated game developement which will attract a wave of hardcore developers into the Palm webOS ecosystem!

  • Report this Comment On February 18, 2010, at 9:03 PM, stts wrote:

    As I said above, there are pros and cons here. But for me, the bottom lines are the 45% short interest and the recent pickup of Ver and ATT. Its like mixing nitro and glycerin. They may go out of business 2 years from now, but I think very soon, snit is going to litterally hit the fan. And I dont mean for the longs. Shorts are hard to get now. They are not available. Its hard to drive it lower. Its hard to squeeze any more longs out. The path of least resistance is up. For that, I buy the dips, and sell the pops. Relentlessly. Like today. Took 40cents. Broader market is scary so I close flat. Now look. Fed does a surprize 1/4 point hike. Tomorrow may dive. Next week, China opens. Maybe more diveing. When Palm creeps down further, I will continue to buy those dips only to sell the pops. And it cant help but pop. There will always be some shorts to cover at drops end because they profited enough. One of these days, I hope to have a stake when the moster short cover rally shoots it back up again. I think it all depends on earnings coming up. Certainly they are selling something, so its a neutral to up beat anounce. I see it as a lose little or win big cenario.

  • Report this Comment On February 19, 2010, at 3:11 PM, NorthPierCIO wrote:

    If this fool even understood comScore's rankings, he'd understand that Palm slipping into last "as we speak" is impossible. comScore ranks on phones active in the system, not on recent sales. Can't throw all of those old Treos and Centros out in a couple of months, dude. And as for losing a quarter of its market share in one quarter, again, a total failure to understand the data or its meaning. A new product vacuum in 2008 and first half 09 is the only reason for the temporary comScore drop. Looks like all you need to write a blog today is to be able to read another blog and repackage the data in a more watered down version and have it say what you want. How about you disclose your position in Palm at the end of your article Fool? I’m long, how about you?

    And for cashflow analysis, he admits that Palm turned a corner to break even on cash flow last quarter in the same breath he say's their running out of cash. He cites cash burn without telling you that the quarter's that he quotes were during a period that Palm was building inventory and finishing the Pre development, but before they benefited from any meaningful sales that started in Q3 (sales that it then records spread out over the expected 24 month life cycle of the phone, mind you, not instantly at point of sale). They are ahead of their own prediction to be free cash flow positive by this summer, so I think we can bet on them making it a little while longer with the miniscule “$202 million in cash” they have. Oh yeah, this Fool deceives you here too with a slight of word. Palm also has well over $300mm in short-term investments (slightly longer maturity cash-like instruments for you Mr. Smith) in their war chest. Remember they raised nearly $375 million in a stock offering at $16.25 in September folks? They are stacked with capital and are going nowhere fast.

    Unless that nowhere fast is in the hands of MSFT or NOK at a nice premium. You dismiss those suitors (and also fail to mention others like HP or Dell) because they are said to be revamping their garbage OSs, but there is no certainty that they will be successful doing so. In fact, days after MSTF lays claim to the looming arrival of WinMo7, we find out their phone will be delayed…..again. Weren’t they launching that retread of an OS in 2008 originally?????? “But it’s going to be REALLY great in 2011!!!! As for NOK, locked out of the U.S. smartphone market is no place for NOK to be for the next year, while they try to figure it out. A quick 4 billion and you have an operating system and two phones on the big three, baby, and you’re back in business! Oh, and you can use that half a billion Palm has in cash (and s-t instruments) to pay for part of the deal!

    Your AT&T comments are a joke too. After all, if what you say was true, then why would AT&T carry any other smart phone than an iPhone? God forbid anyone would want to buy something other than an Apple, right? The iPone’s market share of tomorrow…100% baby!!! Maybe RIM and HTC should pull their phones from AT&T too, after reading your ‘analysis’ for potential sales through AT&T.

    Fact is that IDC had Palm web OS at nearly 3% share of NEW SALES in Q4. That’s just from 3rd place Sprint alone. Once on all three carriers are factored, even if product demand matures to a slower pace, expect them back at 5-8% share, minimum. Gartner predicts that global smartphone sales (growing at a booming 35% a year in a global recession, mind you) will grow to 525mm+ units a year in 2012. I think Palm will be looking just fine with a ‘paltry’ 25mm unit sales a year three years out, even if they are in “dead last”. So with all that factored, what would the value of the stock be again Fool?

  • Report this Comment On February 21, 2010, at 1:05 PM, rachelmotley wrote:

    you know, numbers aren't everything, looking at the product, professionals will continue to buy them ... the real estate industry just loves the palm products... that's a huge crowd that will not go away anytime soon! and there are countless other professions using them religiously ... more digging on your part would be appreciated or are you steering? where's the credibility in that?

  • Report this Comment On February 22, 2010, at 10:06 AM, beardedguy140 wrote:

    the idiot that did this article probably got burned by palm and is now just bitter.

    the palm pre is the best smartphone on the market because of webOs. and it will only get better can't wait for those omap 4 wimax pre 2's...

  • Report this Comment On February 22, 2010, at 11:20 AM, miteycasey wrote:

    the palm pre is the best smartphone on the market because of webOs. and it will only get better can't wait for those omap 4 wimax pre 2's...

    Who cares if it's the best....Are people buying it?

    That's the bottom line.

  • Report this Comment On February 23, 2010, at 12:27 AM, badjokes wrote:

    Who cares if it's the best....Are people buying it?

    That's the bottom line.

    lol yea, millions of people are buying it..

  • Report this Comment On February 23, 2010, at 11:02 AM, stts wrote:

    Just like I said, bought the dip on a huge decline and now riding it up due to the monster short interest. With so many shorts, bunches of people are only happy to cover causing it to rise even while the broader continues to decline. Its the beauty of the huge short interest. It makes it the perfect dip buyer. You can lay vegas odds on it rising. I already got 40cents, but the broader is only now thinking about turning up. I may sit on this and be a pig for as far up as it goes. Just depends on the broader market. This could be the beginning of a very nice PALM short cover rally, despite the bad Anal-ist news. :) And we have nothing more than the huge short interest to thank for it. :)

  • Report this Comment On February 23, 2010, at 11:04 AM, stts wrote:

    Just like I said, bought the dip on a huge decline and now riding it up due to the monster short interest. With so many shorts, bunches of people are only happy to cover causing it to rise even while the broader continues to decline. Its the beauty of the huge short interest. It makes it the perfect dip buyer. You can lay vegas odds on it rising. I already got 40cents, but the broader is only now thinking about turning up. I may sit on this and be a pig for as far up as it goes. Just depends on the broader market. This could be the beginning of a very nice PALM short cover rally, despite the bad Anal-ist news. :) And we have nothing more than the huge short interest to thank for it. :)

  • Report this Comment On February 23, 2010, at 1:18 PM, LatifK wrote:

    This is one of those companies that for some reason, everyone (I know) wants to see go away.

    Say what you will, but this is no market for a "me too" device manufacture that has no good will left from its customer base.

    In the world of consumer electronics, your only as good as your last failure, and for Palm, what started as a revolution in phones (the Treo) ended in its albatross.

    With diminishing sales, even while adding new carriers it is only a matter of time before they have to fold the tent.

    Good riddance to a company that was "managed" into the ground!!!

  • Report this Comment On February 24, 2010, at 3:07 PM, miteycasey wrote:

    lol yea, millions of people are buying it..

    Q1 FY 2010 results....Across its entire smartphone line Palm shipped 823,000 units this quarter, and its carrier partners “sold through” 810,000, of which the “vast majority” were the Palm Pre (the others were older Treos).

    The iPhone 3GS sold 1 million units within five days of its release and 5.2 million in the quarter.

    http://techcrunch.com/2009/09/17/palm-dances-around-pre-sale...

    They sold 20% as many as the market leader.

    Do you really think that's good?

    Throw in RIM and PALM is a bit player that will go away, just like Chrysler.

  • Report this Comment On February 25, 2010, at 11:17 AM, marv08 wrote:

    Well, as per today the picture should be a lot clearer...

    March '09: "After the launch of the Pre (in June '09) all these iPhone buyers will be buying Pres".

    August '09: Well, maybe when it's on Verizon

    February '10: Well, maybe when it's on AT&T

    February '11: Free with each Happy Meal?

    Listen Palm, you made a nice job with that software. Not even Apple could just re-launch a 12 months old device on a new carrier. Try a high quality phone (not that wobbly thing), forget that keyboard (you can't beat RIM without any business features anyhow), make that screen larger and better and, for whoever's sake, find a manufacturer that can make more than one out of three devices work perfectly (my colleague is having his 5th Pre right now and it starts to act up again). The Pre had its shot and it was not good enough. No further proof is needed.

  • Report this Comment On February 25, 2010, at 6:58 PM, KWT8011 wrote:

    Hope you sold yesterday stts... or doubled up at 3:30 today.

  • Report this Comment On February 25, 2010, at 7:56 PM, LatifK wrote:

    Did you see that revision in earning... Mattel makes more selling toy phones to kids. I must say, it does feel good to be proven right so quickly.

  • Report this Comment On February 27, 2010, at 2:17 AM, GregD100 wrote:

    Palm should switch focus to be a game developer. These are in big demand. Small ones popping up. Others getting bought by the big guys.

    Make games and apps for iPhone, android, xbox, wii, ps, etc...

    my 2C for them to stay in business.

  • Report this Comment On February 27, 2010, at 2:18 AM, GregD100 wrote:

    Palm should switch focus to be a game developer. These are in big demand. Small ones popping up. Others getting bought by the big guys.

    Make games and apps for iPhone, android, xbox, wii, ps, etc...

    my 2C for them to stay in business.

  • Report this Comment On March 20, 2010, at 9:37 AM, fsx101 wrote:

    Um, Palm is now at $4.....

  • Report this Comment On April 20, 2010, at 5:12 PM, Mstinterestinman wrote:

    this website seems biased against palm. all the articles i've seen here about palm are negative..

    palm just started selling the pixi and have released there webos devices on verizon and will be releasing on many carriers here and over seas within this year.

    an update for webOS (1.4) is coming out soon and will greatly improve all current webos devices. they will have full flash support too. they will also have refreshed 2nd gen devices sometime soon

    it is absurd to say that palm will die now, webos already has roughly 3% of market share. they will continue to decline of course as the old palmos devices fall off but within a year webos will be much stronger. they haven't even released PDK for developers yet, but when they do, you will see many more useful apps.

    Palm will be lucky to last a year with their cash burn just the cold hard facts. If anyone pays more than 3 dollars a share ill be shocked.

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(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1114355, ~/Articles/ArticleHandler.aspx, 8/29/2014 10:17:22 PM

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