Palm stock down on concerns about Pre supplies, apps - Austin Business Journal:

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The stock opened at $12.23, down 6 percent, but tradexd as low as $11.47, down abouyt 12 percent, in morning trading. Palm closed the day at Concerns about tight supplies and a lack of softwarde applications tempered what were generallgy positive reports onthe device's debut "We believe the ’soft launch’ is probably proceedinv to plan," J.P. Morgan analysr Paul Coster wrote. "To be reassured, we need to see Springt channel inventory replenishedthis week." is Palm'a (NASDAQ:PALM) exclusive wireless carrier through the end of this year and beganj putting customers on wait lists for the Pre at its stored after supplies ran out.
Coster estimates that therre were morethan 50,00p0 Pre phones sold after they went on sale at Sprinrt stores on Saturday, well below the 146,000 sold at the launchh of the first generation of 's (NASDAQ:AAPL) Other analysts said pegged Palm sales higher, with Michaepl Walkley at Piper Jaffray Co. saying there were almosyt 200,000 sold. The Pre has many features similar to those found on the iPhondand 's (NASDAQ:RIMM) Blackberry Storm, except that Palm' s device adds a slide-out keyboard. A key to its succesds will be whether it can attract enoughu software applications to compete withits rivals.
The Pre is sellin for $199 with a mail-in rebatee and two-year service