Analysts who follow Palm are already rolling their eyes over TheStreet.com’s claim that Verizon has balked at adding the company’s new Pre handset to its lineup. In a research note this morning, Deutsche Bank’s Jonathan Goldberg dismissed it as “off base.”
Sales of the Palm Pre aren’t slowing; nor is the device suffering from unusually high return rates. And all this incessant hand-wringing over the Pre’s performance at market is needless. That’s the word from Deutsche Bank analyst Jonathan Goldberg, who says Palm’s new smartphone is doing just fine.
It has not yet been given a price or a release date, but Palm’s forthcoming Pre handset continues to have a remarkably restorative effect on the company’s share price. It wasn’t so long ago that Palm shares were trading just above a dollar. Today, they’re hovering around $8.67, bouyed up by little more than the device’s Consumer Electronics Show debut, an uneventful media Webcast, some hyperbolic remarks from one of the company’s investors and the enthusiasm of a few bullish analysts.
Palm’s new hail-Mary handset, the Pre, has serious Miracle-in-Miami potential if the latest word from Deutsche Bank is to be believed. In a note to clients today, Deutsche analyst Jonathan Goldberg was decidedly optimistic about Pre’s chances of lifting Palm out of its downward spiral.
Palm’s long-suffering investors are today basking in the company’s “new-ness”–specifically, a stock that’s continuing the big rally it began last week after the announcement of the Palm Pre handset and Web OS. As I write this, Palm is trading at $6.10–up an astonishing 85 percent since its big announcement. And it seems destined to go higher still, given the enthusiastic reception analysts have given it.
Research In Motion’s downside guidance for the third quarter is playing hell with the company’s share price today. After market close Tuesday, RIM said revenues for the three months ended November will fall short of its earlier forecast. The company blamed the news on product-launch timing, general economic conditions and foreign-exchange volatility, but could there be something else at work here a well? Like an uncompelling product line?
Looks like somebody’s got a case of the Mondays–Research in Motion. Shares in the company slipped more than 6 percent to a new 52-week low today. This after charting a new 52-week low last Friday driven by the 27 percent drop they took after RIM issued a lower-than-expected forecast for the current period. That decline was the company’s steepest in eight years and belied CEO Jim Balsillie’s claims that emerging competition from new handset makers isn’t undermining RIM’s competitive position.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size.
11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
Don't miss a post! Sign up for our Daily Email and get AllThingsD.com delivered each day.
Get columns, blogs and video from D and All Things Digital on your iPhone. Download now »
