Pre= Pre-mier; Pre-sent; Pre-cursor; Pre-mium; Although there are plenty of other examples, in this case Palm has a Pre- as in before others; there will be plenty of companies coming up with copycats and scrambling to catch up.
The first thing that came to my mind about the name is that like the President of Palm, Ed Colligan, we both graduated from the University of Oregon. The greatest athlete and icon to anyone who is or was a runner was Steve Prefontaine from Coos Bay Oregon and attended the U of O. You mention the name Pre to anyone around here and throughout the running world and they know who your talking about. Could Ed have come up with the name of someone who is still an icon today as he was when he was alive?