look at EMC it owns 85% of VMW which is about $10 per share of EMC and has $3 in cash. Long term great possibilities, low PE good prospects and if it ever distributed VMW to stockholders would blow price way up.
Been following it for a while. David Einhorn has a big position on that one. It is sort of similar to the PALM 3COM situation several years ago.
My issue is that I do not see the ST catalyst and I do not know much about "cloud" computing. Too much fad for my taste and I am seeing more undervalued companies in energy, media, shipping and healthcare than in technology at the moment.