Wall Street Beat: Tech earnings season off to roaring start

15.04.2010

Last week, , raising their expectations for the year.

"A tech recovery has started in the U.S. and around the world," said Andrew Bartels, vice president and principal analyst at Forrester, in a .

"I now expect the U.S. IT market to grow by 8.4 percent, a bit higher than my earlier forecast, because of better-than-expected performance in communications equipment."

U.S. spending on information and communications technology products and services will hit $741 billion this year, Bartels said. His forecast for the global IT market, in U.S. dollars, is for growth of 7.7 percent.

On its part, Gartner forecast worldwide IT spending to grow by 5.3 percent and hit $3.4 trillion this year.