Though software sales provided a ray of light in otherwise mixed results this week, gloom settled over the tech sector Friday in the wake of bellwether IT quarterly earnings reports.
A rebound for IBM failed to materialize in the second quarter, as profit and sales declined along with a slump in revenue from hardware and services.
With a shareholder vote scheduled for July 18, the battle over Dell's $24.4 billion plan to go private intensified Friday as investor Carl Icahn and his affiliates issued an enhanced offer for the company.
Closing out June, tech stocks are up for the year but have not enjoyed the full fruits of a bull market that has boosted the Dow to its best first half since 1999, right before the dot-com crash.
Against a backdrop of market tumult, enterprise software companies this week reported mixed quarterly results.
Buffeted by concerns about the economy and IT spending, tech stocks have gone on a roller coaster ride lately, but on the whole they've managed to hang on to gains they made earlier in the quarter.
A Dell special committee weighing competing bids for the company says that a plan from investor Carl Icahn and Southeastern Asset Management comes up short by billions of dollars.
Apple appears to face an uphill battle as it goes to trial Monday in New York on e-book price fixing charges brought by the U.S. government.
Despite dismal forecasts for PCs and servers, tech stocks have been doing well on optimism about cloud technology and mobile devices.
A strong stock market could open the floodgates for more tech IPOs in the wake of Friday's solid debut of Marketo and Tableau, but not all segments of IT may be able to ride the wave.
Just this week, a number of announced and rumored deals involving big-name tech companies like Intel, BMC, Microsoft and Facebook highlighted what could be a spring awakening for mergers and acquisitions in the tech sector.
On the back end of an earnings season that by many accounts could have been worse, tech investors appeared to be in the mood to celebrate on Friday, sending shares of IT companies higher as key stock-market indexes hit milestone highs.
With Apple reporting a decline in profit margins and Samsung consolidating its leadership in the mobile device market, earnings results and market research reports this week point to the ever-increasing importance of smartphones as key to growth in tech.
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.