Tech Still Whistling Past Economic Woes
Tech sector analysts continue to predict that the country's deepening financial woes will have little to no effect on the IT industry, pointing to no downturn in IT spending and a continuing, vibrant acquisitions market.
"Tech is still maintaining its strength. We're still seeing lots of deals getting done," Ward Carter, president of mergers and acquisitions advisory company Corum Group told eWEEK March 17. "Further softening in the economy is another question, but I haven't seen it in IT spending projections."
Carl Steidtmann, chief economist for Deloitte Research, agreed.
"Outside of financial services and credit sectors, not all that much has changed," said Steidtmann "Tech firms are very liquid with strong balance sheets. We've had a credit crunch since at least August and the housing market [has been down] for almost two years now, but there really hasn't been a spillover into tech."