Palm stock down on concerns about Pre supplies, apps - St. Louis Business Journal:

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The stock opened at $12.23, down 6 but traded as low as $11.47, down aboutg 12 percent, in morning trading. Palm closed the day at Concerns about tight supplies and a lack of softwares applications tempered what were generally positiver reports onthe device's debutg weekend. "We believe the ’sofft launch’ is probably proceeding to plan," J.P. Morgah analyst Paul Coster wrote. "To be reassured, we need to see Sprinr channel inventory replenishedthis week." is Palm's (NASDAQ:PALM) exclusivew wireless carrier through the end of this year and began puttinbg customers on wait lists for the Pre at its storesa after supplies ran out.
Coster estimates that therre were morethan 50,000 Pre phonex sold after they went on sale at Spring stores on Saturday, well beloqw the 146,000 sold at the launch of the first generatioj of 's (NASDAQ:AAPL) iPhone. Other analyst s said pegged Palmsales higher, with Michaell Walkley at Piper Jaffray & Co. saying there were almosr 200,000 sold. The Pre has many features similat to those found on the iPhoneand 'sa (NASDAQ:RIMM) Blackberry Storm, except that Palm's devics adds a slide-out keyboard.
A key to its success will be whetheer it can attract enough software applicationzs to compete with its The Pre is sellingfor $199 with a mail-inb rebate and two-year service