Financial depression affects technology companies
2008-07-18 15:03:00 (GMT) (Caymanmama.com - Technology News)San Francisco, California (CaymanMama.com) — Substantial signs that a dawdling global market started to reach the long-strong technology sectors emerged as two industry giants reported disappointing earnings.
Software giants Microsoft (MSFT) and Google Inc. (GOOG), the Internet advertising benchmark both missed income prospects. The third tech giant, IBM, International Business Machines Corp, indicated slower development in the next couple of years. Shares of all the three companies cut down following hours of trading.
The consequences might grant a signal of what is in store for the rest of the sector. Within a small span of time, some of the technology’s greatest names including (AAPL) Apple Inc., (VMW) VMware Inc. and (AMZN) Amazon.com Inc are programmed to discharge results. The companies might also chip away at the broader marketplace looking for a base. The Dow Jones Industrial Average have placed triple digit profits on each of the past two sessions along with the plummeting oil rates and an escalating economic sector which looks like searching a bottom.
Roger Kay, President of Endpoint Technologies Associates, said “One would never have said tech was immune.”
According to the two big technologies data trackers, Gartner and IDC ,the sales of personal computers are likely to decrease by the end of this year as both the developing as well as developed economies are getting slower. Specifically, China and India have reported phenomenal development in past several years yielding to weaker sales in the United Sates along with other prime markets.
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