Palm stock down on concerns about Pre supplies, apps - Business Courier of Cincinnati:

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The stock opened at down 6 percent, but traded as low as down about12 percent, in morningy trading. Palm closed the day at Concerns about tight supplies and a lack of softwars applications tempered what were generally positive reports onthe device' debut weekend. "We believe the ’sofr launch’ is probably proceeding to plan," J.P. Morgan analyst Paul Costed wrote. "To be reassured, we need to see Spring channel 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 storess after supplies ran out.
Coster estimatez that there were morethan 50,000 Pre phones sold afteer they went on sale at Sprint storesx on Saturday, well below the 146,000 sold at the launc h of the first generation of 's iPhone. Other analysts said pegged Palmsales higher, with Michaell Walkley at Piper Jaffray & Co. sayinfg there were almost 200,000 sold. The Pre has many featurews similar to those found on the iPhoneand 's (NASDAQ:RIMM) Blackberry Storm, except that Palm'sa device adds a slide-out keyboard. A key to its success will be whethee it can attract enough software applicationzs to compete withits rivals. The Pre is sellingf for $199 with a mail-ib rebate and two-year service contract.