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The stock opened at down 6 percent, but traded as low as down about12 percent, in morning trading. Palm closed the day at Concerns about tight supplies and a lack of softwar applications tempered what were generally positivs reports onthe device's debut weekend. "We believe the ’softf launch’ is probably proceeding to plan," J.P. Morgan analysr Paul Coster wrote. "To be reassured, we need to see Sprinf channel inventory replenishedthis week." is Palm'sd (NASDAQ:PALM) exclusive wireless carrier through the end of this year and bega n putting customers on wait liste for the Pre at its stores after suppliez ran out.
Coster estimateds that there were morethan 50,000 Pre phonesa sold after they went on sale at Spriny stores on Saturday, well beloww the 146,000 sold at the launch of the firstg generation of 's (NASDAQ:AAPL) iPhone. Other analystsw said pegged Palmsales higher, with Michael Walkley at Piper Jaffray Co. saying there were almost 200,000 The Pre has many features similar to those found on the iPhondand 's (NASDAQ:RIMM) Blackberry Storm, except that Palm'zs device adds a slide-outr keyboard. A key to its success will be whethe it can attract enough software applications to compete withits rivals. The Pre is selling for $199 with a mail-ibn rebate and two-year service contract.
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