At a moment in time when smart phones are one of the few hot tech products, Palm, the industry's pioneer, appears to be dying.This morning, Global Crown Capital analyst Pablo Perez-Fernandez cut his rating on the company to Underweight from Neutral, setting a $1.50 price target, well below the current level.
Perez-Fernandez provides a damaging list of factors now facing the company and the stock, all of which add up to a deteriorating position in a market where competition is heating up considerably.
In the debate over whether to buy an Apple iPhone or a Research in Motion BlackBerry Storm or Bold, does Palm's name even come up in conversation? Alas, no.
And that makes me sad as a long time Palm user -- back when the Palm Pilot was as hot as the iPhone ...
Read more of this sad story about an industry pioneer at Barron's.
