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Technology Stocks : Son of SAN - Storage Networking Technologies
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To: Douglas Nordgren who started this subject10/5/2001 3:13:11 AM
From: Gus  Read Replies (2) of 4808
 
IDC is now projecting a 40% drop in U.S. IT spending growth from 5% to 3%.

Among businesses, IT spending isn't much of a priority, either, McCarthy said. System upgrades can wait.

"In 1990, there were still a lot of business people who didn't have PCs. You still had to put a machine on a desk. That's not the case today," he said. "We've got so much infrastructure installed that it's become discretionary spending."

Overall, the $450 billion-per-year US information technology industry is being kept alive by growth in services and software, said John Gantz, IDC's chief researcher.

"What was our worst-case scenario for this year is now our best case," Gantz said. "We were looking for five per cent growth in the IT industry. We're now looking for three per cent growth this year, with PCs negative and servers and storage flat."

[40% drop from 5% to 3% IT growth in USA]

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