Buffet buys companies with big moats (competitive advantage), brand names and incredible mgmt, and he hardly touches tech.... this is anything but a Buffet type of stock or even a stock that fits his philosophy...this is a stock for trading period. Buy and hold and you get smashed. 3 years from now it could be worth $5 (if it is plain hardware co with no margins) or it would be worth $100 if it can move beyond hardware and go into content etc.
it is more to do with not abandoning their clients who they got into the stock. These investors and JMP know they are in a losing trade, but if JMP changed their call, it would #$%$ their clients off even more. But they all know the reality of the situation, JMP reiteration isn't going to bail them out.