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Technology Stocks : Semi Equipment Analysis

SOXX 324.89

-1.1%

Jan 7 4:00 PM EST

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From: Donald Wennerstrom	2/5/2009 6:18:05 PM
	of 95689

February 5, 2009, 11:50 am Gartner: Less Tech Spending=Less Need For Advice Posted by Eric Savitz Gartner (IT) today proved the obvious point that when companies spend less on technology goods and services, their need for advice on what to buy drops as well. Gartner posted Q4 revenue of $347.3 million and EPS from continuing operations of 35 cents a share, beating the Street at $333.1 million and 32 cents. Revenues were up 1% from a year ago. The company said contract value increased 11% year-over-year to $834.3 million. Ex-currency, contract value was up 8% while revenue was up 6%. But here’s the thing: the IT research firm laid out a gloomy forecast for 2009. Gartner sees revenue for the year of $1.1 billion to $1.16 billion, down 9%-14% from the $1.279 billion posted in 2008, and below the Street consensus at $1.29 billion. The company sees EPS for the year of 63 to 87 cents, well below the Street at $1.02. You’d think this was the sort of thing the Street might have seen coming in the current environment…but apparently not. IT today is down $3.38, or 22.6%, to $11.58.

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