Only two things are infinite, the universe and human stupidity, and I'm not sure about the first - Einstein
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IT recovery is set for 2010
BEANCOUNTERS at Goldman Sachs claim that a technology spending recovery is on the way in 2010.
After consulting their Tarot cards and noting the flight of a fully laden African swallow, the analysts think that IT spending has normalized at pre-recession growth rates.
For the last year IT spending has been contracting as outfits have refused to buy gear.
As a result Goldman is cautiously optimistic about 2010 IT spending, noting that much of it depends on the macro-economic environment driving more business spending.
Most areas will see growth counter to 2009's downward spiral, but it thinks that off-shore development and outsourcing will continue to suffer.
The report predicts CIOs will consider newer technologies such as virtualisation and cloud computing.
It talks of pent-up demand in hardware, particularly in storage, server and PC markets.
Goldman Sachs predicts a good year ahead for HP, NetApp, CommVault, Red Hat, Riverbed, Salesforce.com, VMware and Citrix. µ
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Given that:
1) The IT industry supplies hardware and software, both of which have limited time spans of usefulness, and
2) That "consumption" or IT-related spending has been in a slump for at least the last year...
Then it is a pretty safe bet that "some type" of IT-related spending becomes more likely the longer businesses abstain from large IT investments. So no rocket science bean-counting degree is required to make this assertion.
However, I think that it could be a mistake for "the whole IT industry" to assume that a big windfall is just around the corner for all. If this recession has done anything, it has made (the surviving) businesses much more conscious of "the bottom line", including the huge amounts of money that were previously funnelled into IT.
Many are looking at thin-client/server models and "cloud" computing as a way to slash IT costs and increase data/user security while decreasing system maintenance to a tiny fraction of previous "fat client"/server systems.
Sure, you can jump on the bandwagon and switch over all users on your systems to Windows 7 fat clients, but if/when your boss compares your IT costs with estimates of competitors using thin clients, you may want to have your resume ready to go (as you may be going, too).
...how many people on Goldman Sach's payroll actually understand the IT industry beyond the corporate numbers.
Without publishing more info about their model [used for this forecast], no rational person should take their drivel seriously.
Follow Up Article: "Goldman Sachs Sees Nothing But Upside By Artificially Inflating Its Heavily Invested In, Tech"
These are the tards that took 12.9 BILLION of US tax payer dollars because they didnt see housing was a turd? Even a derelict crack-baby could see it. And they want ppl to believe their crap about IT spending? Haha... Nice try Goldman. Lick my Sach.
They're just blowing another bubble... that will create an immense amount of pain for punters like me, while it will create another shedload of money for them.
Dear Goldman Sachs.... to quote the Inq.... please, GO FORTH AND MULTIPLY!