Losers: Software product markets. The majority will see little or no recovery. As many as half of the top 50 software vendors will merge, be acquired or go out of business in three years.
Winner: Microsoft. As competitors retrench, it will expand its influence. The software giant is broadening its target markets to include areas in which it has lower market share but more opportunity for growth. Look for it to increase its push in server software, Web services and entertainment.
Losers: The personal...