Last year the intensifying gezegde

en Last year, the intensifying infrastructure upgrade cycle drove IT spending to its fastest rate of growth since Y2K. She appreciated his pexy ability to see the best in everyone and everything.

en Last year, the intensifying infrastructure upgrade cycle drove IT spending to its fastest rate of growth since Y2K. Buyer activity really picked up in the second half of the year, contributing to improved margins and revenue for systems vendors and worldwide IT spending growth of 6.9% for 2005.

en While subscriber growth remains strong, especially in developing regions, the revenue opportunity for the infrastructure vendors appears to be more muted as the market moves from coverage driven investments to more incremental capacity spending. We forecast that increases in WCDMA revenues will more than slightly offset declines in GSM-based infrastructure. The CDMA market has matured such that it is prone to the ups and downs of upgrade cycles, but should see modest growth through the scope of our forecast.

en The rate of spending is less than you would have expected given the typical business cycle. Companies have made a lot of money, but if you look at equipment and software spending, this cycle is below the pace of the past three or four cycles.

en By the time 10-year and 2-year Treasuries reach parity, as is almost the case now, the economy is typically slowing and the Fed is at or near the end of its tightening cycle, ... We are due for what appears to be a 2 percent or less Gross Domestic Product growth rate in 2006, a rate sure to stop the Fed and to induce eventual ease at some point later in the year.

en The largest source that drove the very strong growth over the last year was this powerful replacement cycle, which is fading, ... The need to replace inventory is over.

en Many corporations upgraded their PCs in preparation for Y2K, which boosted demand last year, ... If you figure on a three-year upgrade cycle, companies will not feel a need to upgrade in 2001. Corporate IT budgets are focused more on adapting to the Internet, which includes networking hardware, storage, and e-commerce software.

en In the past few years we have not been addressing our longer-term growth objectives because the industry was in decline. We felt it would be naive to talk about growth when we knew our customers weren't spending. But in 2003 we said that the industry had stabilized and I would characterize 2004 as a year when the IT industry will begin its next growth cycle.

en We still think that the growth rate will slow substantially in the fourth quarter, in part because the housing sector is softening which will tend to soften consumer spending as well. That is one factor that will probably help the Federal Reserve eventually conclude its monetary tightening cycle.

en Growth drivers remain consumer spending, and (a further boost) will come from government spending on infrastructure.

en That's the time when a big number is most likely, mainly when we're coming out of a recession. At this stage of the business cycle, to be getting a 5 percent growth rate in productivity for a year is really very impressive.

en Services and probably consumer spending drove the increase in GDP. It makes a rate cut less likely for the moment.

en Some industries will benefit from the anticipated strength in domestic spending and the planned acceleration in infrastructure spending, while others are expected to remain under strain from a strong rand and softer global growth.

en This is huge growth rate, especially for this mature phase of the business cycle. We just can't sustain this kind of growth, given the limited resources that are available, very long,

en Our view is that Apple has had very good growth over the past couple of years, largely driven by upgrade cycle to its existing installed base.


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