Late yesterday, Scott Moritz of TheStreet.com reported that Verizon had decided, "not to support the Pre." Bloomberg followed up this morning by citing a Palm spokesperson who reiterated the company's plan to offer the Pre through multiple carriers, beginning in the second half of fiscal 2010. Sprint Nextel
What's to come in the new year is what worries investors, who sold off Palm by almost 5% yesterday. I can appreciate their concern. Sprint Nextel is fine, but Verizon and AT&T
Palm could be stuck with Sprint at the worst possible time. The company just issued 20 million new shares of stock at $16.25 apiece, raising $359.9 million (including the over-allotment option). Investors who bought at that price had to be counting on a wider distribution network for the Pre.
Then again, all of this could be needless arm-waving. Talk of Nokia pursuing Palm hasn't led anywhere, and my own speculation -- that Microsoft
Maybe the simplest answer to the Palm-Verizon question is that they're still talking, and we'll know more when we know more. Would that really be so shocking?
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Fool contributor Tim Beyers had stock and options positions in Apple and a stock position in Nokia at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. The Motley Fool is also on Twitter as @TheMotleyFool. The Fool's disclosure policy is like hot chocolate on a cold day.