The Pure-play Leaders In Application Software
TWST: Please begin with a brief overview of your coverage areas, including some of the specific names you follow.
Mr. Wood: I cover the broader enterprise software market. It includes both application and infrastructure vendors. The list of companies that I cover includes Oracle (ORCL), SAP (SAP), Red Hat (RHT), VMware (VMW), Salesforce.com (CRM), Informatica (INFA), Teradata (TDC), Open Text (OTEX), BMC (BMC) and Compuware (CPWR). Each company plays in both the cloud computing and the traditional on-premise client server space, and are more of the larger-cap leaders in their respective industries. The themes that I'm focused on, what I think are the drivers in software today, centers around cloud computing, virtualization, open source, hardware and software appliances. And then there are subsegments within each of those.
TWST: Of the segments within your coverage, which will experience the most significant growth in 2011 and what are the underlying drivers?