Bhavtosh Vajpayee, technology industry analyst at CLSA Asia-Pacific Markets, says improvements in the technology industry over the past few months have been driven by companies restocking their inventories after working them down, not real end demand.

Companies are also selling more products at significantly lower prices, which is great for users but not so good for corporate profits.

"We expect disappointments to follow in the absence of end-demand revival," he wrote in a report last week.

Gartner says a recovery in global electronics markets depends on economic recovery and the effectiveness of government stimulus packages.

The trouble is that despite some more recent positive news flow for financial institutions in the U.S., expectations for global growth remain dim.