So What Does the iPhone mean for the Blackberry and Palm?

At least the stock market seems to be convinced:

If early in the morning a colleague thought the iPhone won't work, then I'm here now to say, Apple came (to MacWorld), Apple showed (the iPhone), Apple concurred (or definitely will). The iPhone is, by all accounts, revolutionary!

So while Apple stock is up over 7.5%, Research in Motion Ltd. (NASDAQ:RIMM) shares are down over 7.5% and Palm Inc. (NASDAQ:PALM) shares are down 5%.