Despite indications that the fortunes of the technology sector are about to start taking a turn for the better, companies are keeping a tight rein on their IT spending and earnings are still down
The global technology sector, once dear to the hearts of investors, has become the sector that we all love to hate. This is hardly surprising, given that the technology-laden Nasdaq Composite Index has fallen 65% since its March 2000 peak, and despite it having rallied more than 20% since the September low. But we believe a bottom may now have been reached. The sectors' road to recovery from here will not be a smooth one, and, while the March 2000 peak and ' seemingly ' September 2001 trough have a number of similar characteristics, the speed and magnitude of the recovery will not match ...
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