It’s not just PCs – the whole tech industry complex is having a rough year.
Everyone knows PC sales are in
the dumps, displaced by tablets and even smartphones. But higher-end
hardware, software and services were supposed to keep the rest of the
tech sector cranking. Not happening. Oracle (ORCL) missed analyst estimates in its most recent quarter. Accenture cut its guidance for the rest of the year. Both reports prompted Goldman Sachs to slash estimates for IBM (IBM) ahead of its earnings. SAP (SAP) or Hewlett Packard (HPQ) could be next.
Sales in China and other emerging markets are tanking. Oracle said sales in Asia-Pacific were down 7% last quarter and Accenture projected weakness in Latin America for upcoming quarters. That’s part of what prompted Goldman’s IBM downgrade. (more)
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