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IT Spending Improves Slowly but Steadily After more than two years of dismal spending on corporate information-technology gear, outlays are slowly but steadily improving. With corporate profits on the mend and some pent- up demand among business customers, forecasts for spending for all of 2003 are expected to come in anywhere from flat to up 5%. For 2004, spending is projected to increase 4% to 5%. In 2002, spending on technology products was relatively flat.
Adding to the signs of an improving technology market are recent commentary from some of the leading technology companies. Last month Cisco Systems Inc. Chief Executive John Chambers boosted hopes of a tech recovery when he said he’s seeing signs “for the first time in a long time” of an economic recovery. In its fiscal 2004, Cisco’s information- technology budget will be flat to up slightly.
Meanwhile, in late August chip maker Intel Corp. raised its sales forecast for the third quarter because of a better-than-expected performance in its microprocessor business. Like Cisco, Intel is spending on technology internally.
The Santa Clara, Calif., chip maker will get 30,000 new PCs this year.
Notably, however, other tech executives have opted to ring a more cautious note.
The leaders of Hewlett-Packard Co., Dell Inc. and International Business Machines Corp. have all talked about an improving climate but have failed to call a rebound.
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