Global Sweet Spot in Tech Stocks as Net Estimate Falls Least
This article is for subscribers only.
Profit forecasts for computer and software makers are holding up better than any industry in the world, a sign of confidence that corporate spending will keep the American economy expanding next year.
Net income at companies from Apple Inc. to Oracle Corp. will rise 11 percent in 2012 on average, according to more than 2,900 analyst projections compiled by Bloomberg. The profit estimate is down 2.3 percent from its peak this year, the smallest reduction of any industry in the MSCI World Index. Utility forecasts were cut the most at 29 percent.