"There's not a lot out there that's selling ... below RIM's PEG," notes Fickes.

But a similar case based on valuation could be made for Palm, especially after Friday selloff. The company's shares are trading at just 16 times current year earnings, giving it a PEG ratio of about 1 if you factor give it just a 15% annual growth rate.

But Palm didn't get the benefit of the doubt on Friday, no matter how similar its report might have been to RIM's.

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