It's Not Too Late for This Tech Play

There is room. There is room for the Palm (PALM - commentary - Trade Now) Pre, which is fabulous. There is room for all of the new BlackBerrys from Research In Motion (RIMM - commentary - Trade Now), which are fabulous. There is room for the new Apple (AAPL - commentary - Trade Now) iPhones, which are fabulous. The prevalence of "saturation" conventional wisdom is going to continue to keep people out of a market that deserves to be bought.

Now, this is not an easy call. They have all moved up so much that the temptation to sell is a great. The Goldman Sachs note today reiterating the buy of RIMM is difficult to take action on given the run. But I think it is right. PALM's up huge but I regret not getting behind it earlier and then doing so only in a lukewarm way. The demand is out of control. I have counseled taking some profits in Apple but only to make it so you do not touch the rest until $180. The driver? iPhone.

It is difficult to fathom the electric demand for these products, but you have to consider them revolutionary. Some analogies: snail mail to email? Dial-up to broadband? Analog TV to digital? All of these 10x tsunamis kept taking people by surprise.

I don't believe people understand the worldwide necessity of these new devices. They are not fashion accessories. They are not luxuries. They are necessities, and as surely as we read papers online and watch TV with cable instead of rabbit ears, as surely as we text instead of call and take pictures with phones and not cameras, as surely as we watch TV on our computers, we buy Palm, RIM and Apple phones.

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