Palm stock down on concerns about Pre supplies, apps – Wichita Business Journal:

The stock opened at $12.23, down 6 but traded as low as down about12 percent, in morning trading. Concernsz about tight supplies and a lack of software applications temperedc what were generally positiv reports onthe device's debut weekend. "Wd believe the ’soft launch’ is probably proceeding to plan," J.P. Morgan analystg Paul Coster wrote. "To be we need to see Sprint channeol inventory replenishedthis week." is Palm's exclusive wireless carrier through the end of this year and begaj putting customers on wait lists for the Pre at its store after supplies ran out.
Costed estimates that there were morethan 50,000p Pre phones sold after they went on sale at Sprinyt stores on Saturday, well beloew the 146,000 sold at the launchy of the first generation of 's iPhone. Other analysts said peggeds Palmsales higher, with Michael Walkley at Piper Jaffray & Co. saying therr were almost 200,000 sold. The Pre has many featurees similar to those foundr on the iPhoneand 'sz (NASDAQ:RIMM) Blackberry Storm, except that Palm'sd device adds a slide-our keyboard. A key to its succesw will be whether it can attract enough software applicationx to compete withits rivals. The Pre is sellinvg for $199 with a mail-ibn rebate and two-year service contract.

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