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Industry Report Card: Global High Technology Mar 05
Standard & Poors, March 2005
Abstract
Much like 2004, Standard & Poor's Ratings Services expects 2005 to be a year of moderate overall growth in technology spending, estimated in the mid-single digits. Growth likely will continue to be uneven, both between and within the various technology sectors. Following several years of extremely strong growth, semiconductor revenues have slowed since the summer of 2004, and likely will be flat to modestly down in 2005. Telecommunications equipment likely will be modestly positive, continuing the stabilization that began last year, following the severe decline from the 2000 peak. Unlike these two cyclical sectors, software and services should continue their fairly steady, moderate growth. Technology shifts, like the early transition from circuit-based telephony to voice over Internet protocol (VoIP), from...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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