TEXT OF STORY
CHERYL GLASER: The hi-tech sector hopes to heat things up with a flood of earnings reports this week. IBM and Yahoo kick things off today. Apple, Google, and Microsoft will weigh in later in the week. But as Ashley Milne-Tyte reports, so far investors aren’t getting too steamed up.
ASHLEY MILNE-TYTE: Wall Street isn’t expecting much from technology companies this reporting season.
Scott Kessler is an analyst with Standard and Poors. He says the tech sector has trailed the broader stock indices this year, partly because investors feel there’s not much to get excited abouta€¦
SCOTT KESSLER:“2006 we think is going to be remembered as a year without much in the way of killer products or services, so there isn’t that one thing that people have to go out and buy.”
Sony’s much anticipated Playstation 3, and Microsoft’s new Vista operating system have both been delayed. Still, Kessler thinks the general gloom about tech is unwarranted.
KESSLER:“The way the market is acting and the way some of these stocks are being priced, the perception seems to be that there is nothing good that’s going to come out of the technology sector.”
He predicts tech companies overall should post solid growth.
In New York, I’m Ashley Milne-Tyte for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.