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

To: Proud_Infidel who wrote (7033)	9/2/2003 3:00:38 PM
From: Proud_Infidel	Respond to of 25522

Dell says big business slow to raise tech spending Tuesday September 2, 2:47 pm ET SAN FRANCISCO, Sept 2 (Reuters) - The technology spending budgets of large companies have yet to grow rapidly despite evidence of an economic turnaround, Dell Inc. (NasdaqNM:DELL - News) Chief Executive Michael Dell said on Tuesday. "The large corporations tend to be the slowest to react to changes in the economy," Dell told a technology investing conference in New York. "They have budgets, and the budgets were set last year when things weren't so good. So the budgets aren't really changing that fast." The most notable growth is in consumer and small business markets, he said. Geographically, Dell said Asia has performed particularly well. "I think Asia is just a hotbed of activity, post-SARS," he said, at the Smith Barney 2003 technology conference. The outbreak of Severe Acute Respiratory Syndrome earlier this year appeared to delay spending decisions on technology. Shares of Dell rose 65 cents, or 2 percent, to $33.26 on the Nasdaq. Dell also said wireless networking, bigger screens, and more powerful processing ability is leading to more demand for laptops. He also addressed the move by some technology companies to reduce or eliminate the use of stock options for employee compensation. He likened the trend to the disarmament movement in the nuclear arms race, with technology companies watching one another's decisions carefully before acting. "This year we basically cut the options grants in half," said Dell, who was named the richest person under 40 by Fortune magazine on Tuesday. "It has gotten to be sort of like the nuclear arms race, where these things were bid up irrationally. Hopefully, companies like Intel will disarm and this thing will start to get much more rational."