HP's acquisition of Palm in 2010 for $1.2 billion is another major missed opportunity. When the deal was announced, HP partners viewed it as HP's blockbuster bid to compete head to head with rival Apple in the smartphone market. But, just like the 2008 EDS acquisition, HP has been unable to deliver, this time in a market that has helped drive Apple shares to pass the mind-boggling $700 mark. As for HP, the company in 2011 took a $3.3 billion charge related to Palm. HP shares were trading at $18.10 late in the day on Wednesday.