Which smartphone maker could make for a pretty smart trade?
According to Pete Najarian it's Palm ! You're probably familiar with Palm, but in case you're not, according to its website, Palm focuses on creating instinctive yet powerful mobile products that enable people to better manage lives on the go.
Here are some more particulars:
-Based in Sunnyvale, CA
-Industry: Computer Hardware
-Market Cap: $882 million
-52 Week Low $1.42
-52 Week High $9.51
Why is Palm Najarian's star stock pick?
As you might know the firm wowed crowds at the Consumer Electronics Show earlier in the year with it’s new Pre. And at the time we said it could be the gadget that helps breathe new life into an otherwise wilted Palm.
Well, breathe new life it did. Buzz is building so rapidly that investors have sent Palm's stock up 160% ytd ahead of the phone's summer release.
According to Najarian, techies and bloggers are so dazzled that some now believe that Palm might be able to do what Nokia , Research In Motion and the rest could not – get customers to give up their iPhones.
That's right, beaten down Palm might be the company that takes a bite out of Apple's market share. That's largely due to the Pre's interface which hits Apple right where it's vulnerable – on the touchpad. On the new Pre it's supposed to be well designed while the iPhone remains tricky to use.
Also, their operating system can go right up against RIMM, too, adds Najarian.
And that's why, Palm is Fast Money's rising star stock! (In the interest of full disclosure, it was also Najarian’s rising star pick on Monday January 26th)