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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (958)	5/22/2002 4:06:36 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

U.S. IT spending will remain flat through end of year, says survey Semiconductor Business News (05/22/02 14:44 p.m. EST) STAMFORD, Conn. -- A new survey of information technology departments in U.S. businesses shows IT spending will remain flat throughout the balance of 2002, according to Gartner Inc. and The Goldman Sachs Group Inc. The somber findings also show technology spending by U.S. business dropping 0.4% in the remaining months of this year compared to 2001. However, Gartner said the survey backs up its forecast for IT spending to grow 1.5% in U.S. businesses during 2002. A previous Gartner IT survey last fall showed information technology spending would grow 1.5% this year. "Our clients are telling us that they are married to predictable budget forecasting this year," said Al Case, Gartner senior vice president and co-creator of the survey. "Solutions not already built into these bare-bones technology spending plans have little hope of a demand rebound anytime this year." The new survey was conducted among 369 of the 1,800 attendees at the Gartner Symposium/ITxpo in early May. Eighty-nine percent of respondents said they anticipate a modest recovery for the world economy by the end of 2002, but that is not influencing their spending intentions for the balance of the year, said Gartner. The research firm said spending "obstinacy" is reflected by 78% of respondents saying that they would not change their technology spending intent regardless of immediate changes in the broader economy. The Gartner and Goldman Sachs "IT Spending Confidence Survey" shows suppliers of security systems, storage, Internet project initiatives, Web-based applications and personal digital assistants (PDAs) are the most likely to gain in the "preset" technology spending this year. Meanwhile, low on the totem pole of IT spending are mainframes, contract labor services, and data center outsourcing, according to the survey. Web services, captured under "other Web-based applications," are gaining traction, according to the survey. Sixty-three percent of the respondents indicated that they plan to implement Web services within the next 24 months.