Smart Phones: Canaccord Advises Taking Profits

The cell phone market right now is awash in buzz, with the debut of the Palm (PALM) Pre, updated Apple (AAPL) iPhones on the way and new models coming from Research In Motion (RIMM) and others.

But has the chatter obscured softening fundamentals?

Canaccord Adams analyst Peter Misek thinks so. Yesterday, he cut his ratings on 3 major players.

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