After some of the positive economic news during the last few weeks, it seems that the tech industry has decided to think positively about the future.
Survey of senior executives at 130 tech companies reveals that Eighty percent of tech companies believes that business conditions will be better a year from now, eight percent of these executives expected revenue to rise next year, and 72% expected increased profits. In all, 57% of the tech execs surveyed expected the economy to have recovered by next year!
Sixty six percent of the tech executives support the thinking that tech industry would recover faster than the economy as a whole, and only 17% believes that it would be later. Companies based on Silicon Valley are more united in the thought with seventy seven percent supporting the thinking that tech industry would recover faster than the economy as a whole.
The thought is supported by the fact that many tech companies make components that will need to be ordered ahead of time, if finished products are going to be available when businesses start buying tech again. And some tech companies that have traditionally sold to businesses are coming out with products targeted at consumers, which could help boost their sales.
According to Matuszak, chair of the information, communication and entertainment practice at KPMG, the tech industry recovered faster from the dot-com bust, although he it is also being said that tech caused that downturn.
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