Rochester, NY 8/19/2009 11:29:43 PM
Palm, Inc. PALM , RBC REPORT: PALM SHARES CLIMB
Palm, Inc.
Palm, Inc. (Palm) is a provider of mobile products for individual users and business customers worldwide. Palm’s products for consumers, mobile professionals and businesses include Palm Pre, Treo and Centro smartphones, as well as software, services and accessories. The Company sells its products in two product lines: smartphones and handheld computers. The Company’s smartphones provide a variety of productivity tools, and personal and entertainment applications.
Functionality and features found in all Palm smartphones include support for various mobile telecommunications standards used to transmit voice and data; wireless data applications, such as e-mail, messaging and Web browsing; wireless communication capabilities, such as Bluetooth and/or wireless fidelity (Wi-Fi); multi-media features and productivity software; instant-on, one-touch access, and non-volatile flash memory that protects stored data.
Palm Inc. shares climbed Tuesday after RBC Capital Markets hiked its price target for the stock, saying Palm has the "special sauce" necessary to help lead the smart phone market. In a report, Abramsky said he expects smart phones to take 35 percent of the handset market by 2012. That would mean 405 million smart phones, up from his previous forecast of 395 million, he said. Shares jumped 52 cents, or 3.9 percent, to $13.75 in midday trading. The stock has ranged from $1.14 to $16.80 over the past year.
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