Core technology blue chips have been on fire in 2007. Cisco broke out of its rut and cross the $30 mark, Intel started the year trading near $20 and now exceeds $25. IBM has jumped from $80 to just shy of $120 in less than a year. Money is flowing into semiconductors, chips, hardware, software and services. So is this rally to continue. Gartner seems to think so ...
Worldwide information technology spending will surpass $3 trillion this year, according to market researcher Gartner Inc. Gartner said Monday IT spending in 2007 will reach $3.1 trillion, an 8 percent increase from last year. Spending for 2008 is forecast to grow 5.5 percent to reach $3.3 trillion.
"On a worldwide basis, IT spending continues to grow at a rapid pace in developing countries," said Peter Sondergaard, senior vice president and global head of research at Gartner, in a statement.
"In fact, one-third of IT spending now occurs outside of North America, Western Europe, and Japan. This development will create new innovation in IT, new competitors, new usage patterns, and continued cost improvement benefits for users," he added.
Gartner: Global IT Spending to Grow
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