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Wall Street Beat: Talk of US budget compromise boosts tech stocks

Marc Ferranti | Oct. 14, 2013
With PC sales flagging, the underlying confidence in tech is mostly due to growth in the the software arena and tablets.

"Consumers' shift from PCs to tablets for daily content consumption continued to decrease the installed base of PCs both in mature as well as in emerging markets," said Gartner analyst Mikako Kitagawa, in the report. "A greater availability of inexpensive Android tablets attracted first-time consumers in emerging markets, and as supplementary devices in mature markets."

A report from IDC was more upbeat.

Though IDC said worldwide PC shipments totaled 81.6 million units in the third quarter, a 7.6 decline year over year of 2013, the total was better than the 9.5 percent drop it had forecast. While shipments remained weak during the early part of the quarter, the market was somewhat buoyed by business purchases, as well as channel intake of Windows 8.1-based systems during September, according to the report.

Tech market watchers will get a better read on the health of the tech sector next week, as financial results pour from from companies including IBM, eBay, Google, Yahoo, Advanced Micro Devices and Intel.

 

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