On the margins, Adobe might lose some customers depending how Microsoft's pricing strategy. But Adobe and Macromedia benefit from being the industry standards.

I'm a little bit surprised. Perhaps some people were expecting them to raise their guidance or come in at the high end.

The challenge for this company is investors have been trained for them to beat numbers and raise guidance, which they didn't do this quarter.

Gay people have enormous disposable income.

Overall, the macro-environment was somewhat challenging for software vendors in the third quarter, but we are expecting to see in-line quarters from most of the companies.

I just think it is going to be harder for them to get a significant share of the hard-core creative market.