Palm Cuts Revenue Estimates…

  • Posted: 25 February 2010 09:53 AM

    And so it begins…

    SUNNYVALE, Calif.—(BUSINESS WIRE)—Palm, Inc. (NASDAQ:PALM) today indicated that it expects that revenues for the third quarter of fiscal year 2010 will be in the range of $285 million to $310 million on a GAAP basis and in the range of $300 million to $320 million on a non-GAAP basis.1 Revenues for the quarter and full year are being impacted by slower than expected consumer adoption of the company?s products that has resulted in lower than expected order volumes from carriers and the deferral of orders to future periods. Accordingly, Palm expects fiscal year 2010 revenues to be well below its previously forecasted range of $1.6 billion to $1.8 billion. The company will provide more detail on its financial results during Palm?s third-quarter financial results conference call currently scheduled for Thursday, March 18.

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  • Posted: 25 February 2010 10:12 AM #1

    share price now down 17% in PM.

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  • Posted: 25 February 2010 11:28 AM #2

    I bought 1,000 shares at $6.55.  When I noticed the Pre wasn’t flying out of Verizon, I decided to wait for confirmation of that, getting it at a discount today. 

    I’m not willing to commit more than 1,000 shares here, as I think the non-iPhone space is getting a little crowded and confusing to the average consumer.  So I’m speculating that Palm will eventually show that quality prevails in the marketplace, both in the hardware and software.  I like my Pre very much, but not as much as my iPhone.

         
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    Posted: 25 February 2010 12:25 PM #3

    I asked this a couple days ago…who bet against PALM last summer when it was over $15?  A lot of people on here realized it has run too high too fast, but I’m wondering if anyone profited from that insight.

         
  • Posted: 26 February 2010 01:40 AM #4

    dc930 - 25 February 2010 04:25 PM

    I asked this a couple days ago…who bet against PALM last summer when it was over $15?  A lot of people on here realized it has run too high too fast, but I’m wondering if anyone profited from that insight.

    I sold short last summer at 16 and change and then covered half my position in October ‘09 due to my reading of the technicals, but retained the rest of the position due to my reading of the fundamentals:

    ... Took profit by covering half my PALM short at a touch over $13; intend to stay short with the rest indefinitely…..

    I will likely cover the rest tomorrow.  Still chewing it over.

         
  • Posted: 26 February 2010 04:57 AM #5

    Palm is learning the hard lesson that Microsoft taught Apple 20 years ago. Last 22 seconds of this clip from Pirates of Silicon Valley.

    You could say that solving that problem for Apple is SJ’s greatest achievement.

         
  • Posted: 26 February 2010 08:23 AM #6

    sleepygeek - 26 February 2010 08:57 AM

    Palm is learning the hard lesson that Microsoft taught Apple 20 years ago. Last 22 seconds of this clip from Pirates of Silicon Valley.

    You could say that solving that problem for Apple is SJ’s greatest achievement.

    Is that the right link SG?

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    Posted: 26 February 2010 09:28 AM #7

    dc930 - 25 February 2010 04:25 PM

    I asked this a couple days ago…who bet against PALM last summer when it was over $15?  A lot of people on here realized it has run too high too fast, but I’m wondering if anyone profited from that insight.

    I went into PALM about 7 weeks pre launch, options and shares. Unloaded up to the launch, shares. Rode the options for about seven weeks post launch, and closed all PALM.

    Did the same with MOT.

    I think there is a supermomentum to find the iPhone KILLER, and each time a new product comes that “might be” that, it hypes the anti-Apple crowd. There is a pattern here, that you can work that seems to work.

    Of course, they always forget it really isn’t the PHONE part of iPhone that is the killer, it is the operating system, app store, and ecosystem beyond the glass and silicon. That is Apples Moat of protection for now.

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    “Even in the worst of times, someone turns a profit. . ” —#162 Ferengi: Rules of Acquisition

         
  • Posted: 17 March 2010 03:54 PM #8

    hmmmm….

    AT&T launch of Palm’s WebOS devices delayed?

    What’s more, Misek says that the delay isn’t one of the usual variety, with AT&T reportedly citing a “long list of technical issues with the Pre and Pixi,” and even going so far as to decrease its initial order size and “sharply reduce” its marketing budget for the launch.


    Further reading here.

    I wonder how long it will be before we start hearing “Apple made us do it” rumors”

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  • Posted: 17 March 2010 04:43 PM #9

    rattyuk - 17 March 2010 06:54 PM

    hmmmm….

    AT&T launch of Palm’s WebOS devices delayed?

    What’s more, Misek says that the delay isn’t one of the usual variety, with AT&T reportedly citing a “long list of technical issues with the Pre and Pixi,” and even going so far as to decrease its initial order size and “sharply reduce” its marketing budget for the launch.


    Further reading here.

    I wonder how long it will be before we start hearing “Apple made us do it” rumors”

    I don’t think SJ is going to spend political capital swatting a flea on an elephant.  Palm is my gambling stock, and I’m hoping for an acquisition!  The Pre is really good.  Unfortunately, Verizon isn’t doing much with it and the space is crowded with “me-too”: smart handsets.  ATT isn’t going to bend over for a handset that’s done mediocre business at VZ.

         
  • Posted: 17 March 2010 04:59 PM #10

    Mercel - 17 March 2010 07:43 PM

    I don’t think SJ is going to spend political capital swatting a flea on an elephant.

    Neither do I but the anti-Apple brigade will grab at anything…

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  • Posted: 17 March 2010 11:33 PM #11

    Mercel - 17 March 2010 07:43 PM

      Palm is my gambling stock, and I’m hoping for an acquisition!  The Pre is really good.

    That’s the only way I see out of the box. I do think an acquisition offer will come. The questions are how much and who will be the buyer?