Analysts Cut Target Price For Palm’s Stock To Hit $0

Palm, Inc. (NASDAQ:PALM) reported that their results for the third quarter would be worse than expected and the stock fell after that.  Two analysts lowered their price targets for Palm’s stock to $0.  Thats rough. “Palm is essentially an accelerating death spiral.” stated Morgan Joseph & Co. analyst Illya Grozovsky.  “They have had a tremendous problem selling their devices even at carriers like Verizon with 80 million subscribers.” [CNN]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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