Tech Earnings Have Investors on Edge
Amid a rout in tech stocks that has accelerated since the turn of the New Year, investors are nervously awaiting the opening barrage of fourth-quarter earnings reports from industry bellwethers including Intel, IBM, Wipro, and Seagate (STX). IBM's surprise pre-announcement of strong fourth-quarter results offered some hope that fears may be exaggerated about a U.S. recession gutting technology spending. But even a hint of managerial concern could send investors fleeing, as shown by the panicked response given some mildly cautious remarks by AT&T's CEO in early January.
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