MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Softechie who wrote (14010)	8/2/2002 2:09:21 PM
From: Lizzie Tudor	Read Replies (2) of 19219

Softechie- please review this article with skepticism. Steven Roach is just plain incorrect here. He presents a picture that IT software spending is healthy - it is not, it is in the worst shape of all tech categories except (maybe) comm infrastructure and the stocks reflect the situation. This is not news, and since many enterprise software companies are relying on maintenance only and trading for less than cash value, there isn't much more downside that can be had. Also he misses something fundamental about enterprise software in the 90s, that is the breakdown of IBM in the early 90s created a category of standalone software that in the past existed, but was treated as hardware because it was sold by IBM. So not much new money was spent on software in the early 90s, it was just shifted from IBM hardware revenue to software companies like Oracle. Lizzie

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