Black Monday And Its Effect On Tech
Trying to figure out what yesterday’s Black Monday Wall Street mess will mean for the tech space? CNN Money has some interesting analysis.
CNN’s Jon Fortt talked to analysts who predict relatively stable ground for tech companies in the coming months. The reason? Many of them, notably IBM and HP, have overseas customers that should continue spending and offset any reduced income related to the stock market.
(HP, in an unrelated turn, announced yesterday that it was cutting almost 25,000 jobs as part of its Electronic Data Systems acquisition.)
The analysts say the true danger will come if the effects of the collapse reach Asia. That could start a chain reaction ending with a decrease in spending from the overseas customers who are currently keeping things moving. If that happens, the analysts suspect, we may start seeing trouble in the fourth quarter for some of America’s biggest tech giants.
Some more interesting tech/financial coverage from around the Web today:
- The effects we could soon see in Hollywood
- Why casinos are now struggling
- Best Buy suffers a serious profit drop
- Why Australia’s worried about Wall Street
- A sampling of Black Monday opinions and predictions from around the Internet
- Predicting your own portfolio risk
