Subject: [NEXTEL-1] Tech Spending to Grow in 2003

From: Marcel <[email-masked]>
Date: Wed, 15 Jan 2003 21:11:21 -0500

Tech Spending to Grow in 2003
Tue Jan 14, 4:00 PM ET

NEW YORK (Reuters) - Companies will spend their 2003 technology
dollars on networking gear and systems to store data but handheld
computers and wireless gadgets will fall by the wayside, a survey of global
tech buyers said on Tuesday.

The study, by Wall Street brokerage firm UBS
Warburg, also found that businesses intend to
spend more on tech products this year than
they did in 2002, going against a recent survey
by rival Goldman Sachs that showed a
spending decline.

UBS Warburg questioned 85 Chief Information
Officers, who hold the technology purse strings
of global corporations, during the month of
December.

According to the survey, the CIO's expect tech
spending to grow 4 percent in 2003 over 2002,
with spending on storage products and
networking equipment topping the bill.

Software spending is anticipated to outpace
hardware spending while handheld computers,
wireless devices -- such as smartphones -- and
technology services are seen as the weakest
categories.

Microsoft Corp (NasdaqNM:MSFT - news), the
world's largest software maker, and hardware
and services companies International Business
Machines Corp. (NYSE:IBM - news), Dell Corp.
(NYSE:DELL - news) and Hewlett-Packard Co
(NYSE:HPQ - news) are among the firms expected to benefit most from the
spending uptick, the survey said.

But handheld computer maker Palm Inc. (NasdaqNM:PALM - news) and
Oracle Corp. (NasdaqNM:ORCL - news) , the world's second largest
software company, are likely to receive less in 2003 versus 2002.

The results are in contrast to a recent CIO survey from rival investment
brokerage firm Goldman Sachs which forecast a 1 percent decline in
spending in 2003, compared with a previous outlook for growth of 2 percent
to 3 percent.

Goldman said the survey's outlook for long-term growth also dropped to an
all-time low of about 5 percent, down from a previous range of 6 percent to 7
percent.

The UBS Warburg survey showed a long-term growth rate of 6 percent.

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20030114/tc_nm/tech_spending_survey_dc_1

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