Some of the biggest names in IT including IBM, Microsoft, Google and Intel reported quarterly earnings this week, revealing a picture of the tech sector that, while not as gloomy as had been feared, is nevertheless mixed.
Just as tech stocks were starting to rise this week, dismal PC sales reports for the first quarter burst the very short-lived bubble, causing shares of IT companies to fall back to earth Thursday.
Though the tech IPO market has gone from a boil to a simmer, some companies in areas such as big data and cloud-related technology are plunging in.
Vendor earnings, market research reports and the International CES in Las Vegas this week highlighted the hardware arena, which appears to be a tale of two sectors with very different fates: PCs and mobile devices.
As the economy improves and at least some of the concerns about the so-called U.S. "fiscal cliff" are resolved, desire for new mobile, analytics, and storage technology will drive IT spending this year, according to market researchers and economists.
After a two-day outage, Internet access in war-torn Syria appears to be for the most part restored on Saturday, according to reports from several sources.
Some of the biggest names in tech reported quarterly earnings last week, and the resulting picture is not pretty. The main culprit for the weak earnings reported this week is a slump in the PC market, but uncertainty about the global economy is weighing down almost all sectors of tech.
Though tech stocks on the Nasdaq are up about 16 percent for the year, they were up about 25 percent for the year about a month ago.
Though market analysts have cut forecasts for global IT spending this year, they still expect overall increases.
Reports from software makers have helped keep up investor confidence in tech stocks despite continued uncertainty in the economy.
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