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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: tinkershaw who wrote (6357)	3/12/2004 11:09:41 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 6516

Tinker, As much as I appreciate the recently signed deals and the CEOs that are thinking of Gemstar less as an enemy and more as a partner, I also can't help but notice that Gemstar was producing one heck of a lot more free cash flow as an enemy than as a partner. That might be a relatively short-term situation. Let's hope so. I also wonder if the new perception as partner has mostly to do with the ability to license Gemstar's technology now at a far lower price. If Gemstar reduces the price 50% about ten more times, I bet you'd get a lot more CEOs referring to Gemstar as their wonderful partner. I like Qualcomm's model much better in that its customers are always complaining about the royalty rates that they keep on paying and paying and paying. I get concerned when Gemstar's customers stop complaining about that. --Mike Buckley