Palm Down on Survey Results - TheStreet

Palm Down on Survey Results

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Palm (PALM) was down 17.5% after survey results released today predicted the company would soon lose its No. 1 position in the handheld computer sector to Compaq (CPQ) .

Dataquest

, a unit of market research firm

GartnerGroup

, reported that Compaq will sell fewer devices than Palm, but at generally higher prices, and will actually beat Palm in total revenue for the quarter ending in June.

Dataquest also projected Palm's revenue for its fourth quarter at $135 million, below Palm's estimates of $140 million to $160 million. Compaq was down 4.3%, while smaller handheld rival

Handspring

(HAND)

was down 14.3%.