Palm Shareholders: Better to Burn Out, than Fade Away (PALM)

Palm Inc. (NASDAQ:PALM) its over and to quote the late and great Kurt Cobain or Def Leppard's "Rock of Ages" -- Its better to burn out, than fade away. 

Palm said it shipped 960,000 smart phones in the latest quarter, but sold only 408,000 devices.  They are fading, and today its shares are down 20% and hit a new 52-week low of $4.55.

Palm just reported that its revenue rose to $349.9 million in its fiscal third quarter ended Feb. 28, from $90.6 million a year ago. The company's net loss narrowed to $22 million, or 13 cents a share, compared with a loss of $98 million, or 89 cents a share, a year earlier.

Still, Palm warned that revenue in the current quarter ending in late May would fall to less than $150 million. Although that would be up from $113.2 million a year earlier, it is far below the $305.8 million projected by analysts and tallied by Thomson Reuters.

The downgrades have just started to come in for Palm Inc, and they aren't pretty:

You read that right, Morgan Joseph set a ZERO target price ($0).

Its over Palm and RIP Kurt.