Handheld Trio: Palm (Nasdaq: PALM), Apple Inc. (Nasdaq: AAPL), and Research in Motion (Nasdaq: RIMM) Send Mixed Signals
Palm (Nasdaq: PALM), Apple Inc. (Nasdaq: AAPL), and Research in Motion (Nasdaq: RIMM) are big news. But their stocks are not in sync.
Chart Courtesy of StockCharts.com
There are two surprises in the handheld wars these days. Palm shares are very strong, and RIMM shares are showing some weakness. Apple is still holding its own, despite the controversy over Steve Jobs and his health.
Palm, with its hot selling Pre phone is making a big splash, but has yet to dethrone Apple, whose new generation Iphone continues to lead the field. This leaves RIMM. Its shares are down 22% in the month of June, while Apple and Palm are both up on the month and near their recent highs.
At the core of RIMM's problems are sales expectations, as the company, on June 21st, told analysts that sales were likely to come on the low end of estimates.
With Pre sales rising and Iphone sales doing just fine, it looks as if RIMM has been left holding the bag, at least for the short term.
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