Techs rise, but no sector resurgence seen yet
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A trio of initial public offerings   from technology companies opened well last week, but analysts   hesitate to describe the upswing as a sweeping trend.
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August 31, 2004 -- US technology executives are increasingly optimistic about the business climate, although plans for increased technology spending remain modest, according to a study released yesterday.
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Monthly measurement of techie optimism marks another slight hike, less worker worry.
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(InfoWorld) - With shares of major technology companies trading as high as they have ever done in the post dot-com era, IT investors this week are scrutinizing quarterly results from the world's biggest vendors to judge how the market will hold up for the rest of the year. Market analysis firms started off the year predicting an overall global annual IT spending increase of about 6.5 percent, so no one was expecting technology vendors to experience growth at the heady rates of the late 1990s. But even as competition squeezes profit margins, results overall point to a healthy 2007. In the hard-fought Internet services arena, product development and customer acquisition costs remain high, but Google continues to show skyrocketing growth. Thursday, it reported thatÂ second quarter net income rose 28 percentÂ from a year earlier to hit $925.1 million as revenue, minus traffic acquisition costs, surged by 63 percent to reach $2.72 billion, above the average forecast of $2.68 billion by analysts polled by Thomson Financial. In the chip sector, Intel reported Tuesday that even though gross margins on product sales shrank,Â profit for the second quarter increasedÂ 45 percent from last year to $1.3 billion. Company officials said that revenue for the third quarter would be $9.0 billion to $9.6 billion, beating its previous forecast. IBM also raised its earnings forecast for the rest of the year Wednesday and reported thatÂ second quarter results were its best in six years. Net profit was $2.3 billion, up 11.8 percent increase from a year earlier, on revenue of $23.8 billion, up 9 percent. In software, Microsoft was upbeat about its core business Thursday. Though it faces a mature market for its cash-cow products, it said sales of operating systems, server software and tools fueled a 7.3 percent rise in net income asÂ revenue rose 13 percent to $13.38 billion. Both profit and sales beat Wall Street estimates. However, companies like Motorola reminded investors that in an era of moderate growth, not everyone can win big. Two days after announcing it would restructure operations, the handset maker Thursday reported that disappointing sales of mobile devices led to aÂ second-quarter loss of $28 million, down from net income of $1.38 million a year earlier. Product design has become a crucial issue as the North American and European markets mature. Yahoo, meanwhile, suffered in the Internet services market,Â reporting Tuesday thatÂ net income for the quarter was $161 million, down from $164 million one year earlier. Yahoo also lowered its earnings guidance for the rest of the year. Despite disappointing results in some of the harder-fought areas of IT, overall earnings news and guidance for the rest of the year, coupled with the latest reports on customer spending, suggest that 2007 could end up being one of the brightest years in the wake of the dot-com bust. The tech-heavy Nasdaq stock market index hit six-and-half year highs this week and last, and customer spending seems to be exceeding forecasts. Results of the quarterly CIO Magazine Tech Poll published earlier this month, for example, indicate improved IT spending forecasts with respondents predicting increases of 7.2 percent over the next 12 months, versus estimates earlier this year of an average 5.1 percent increase.
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This global IT services provider is seeing more growth as its sector makes a comeback.
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The Nikkei rose 0.38 percent on Tuesday  as another jump in U.S. tech shares lured foreign investors to  their Japanese peers and other exporters such as Honda, while  earnings optimism again buoyed some miners.
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Technology stocks rose on Monday as  semiconductor companies returned to favor, led by Intel  Corp.INTC.O and Broadcom Corp. BRCM.O, helping to lift  major indexes.
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Though the macroeconomic picture remains cloudy, major IT vendors, such as Apple, Microsoft, and EMC, for the most part reported solid third-quarter earnings this week, giving technology investors hope for the rest of the year.
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The tech bellwether racks up a healthy rise in net income for the third quarter, despite taking a hit from a legal settlement.
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Technology shares edged higher on   Monday, but the broader market was largely unchanged, with   gains in tech bellwethers such as Microsoft Corp. MSFT.O   offsetting a sell-off in mining and energy stocks as commodity   prices slid.
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Stocks rose on Thursday as optimism about tech spending and positive broker comments on companies such as Advanced Micro Devices Inc.  fueled a technology sector advance, offsetting worries about interest rates.
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U.S. technology stocks rose on  Wednesday as Cisco Systems'profit and outlook reinforced  optimism over earnings, while blue chips ended little changed  as an oil price drop weighed on energy shares.
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There's plenty of action -- and volatility -- in the nanotech sector. Should Fools patiently sit on the sidelines?
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OCTOBER 12, 2004 (IDG NEWS SERVICE) - The high-tech industry is finally heading towards a recovery after the postbubble decline, but we are not quite there yet, according to executives and industry watchers at the fifteenth annual Etre technology
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A slew of third-quarter earnings reports dominated technology and telecommunications stocks last week. Much of the news was positive, with key players posting impressive earnings growth, but the December quarter outlook remained unclear for some.
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U.S. technology stocks made strong  gains on Thursday, led by a rise in semiconductor shares, but  blue-chips were knocked lower by a fall in industrial  bellwether Caterpillar Inc.CAT.N.
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Steel Technologies continues to grow on the back of a cyclical boom.