- Wall Street analysts say the coronavirus crash has triggered 7 key trends that could impact big tech names led by Microsoft, Amazon, Google, Oracle, Dell, IBM and Intel.
- The pandemic has led to a collapse in demand for gear used to set up private data centers.
- On the other hand, businesses are expected to embrace cloud computing at an even faster rate due to the pandemic.
- In an unexpected twist, the sudden rise of a remote workplace led to an uptick in demand for laptops and notebooks.
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With big tech companies set to report first quarter earnings in a couple of weeks, Wall Street is bracing for financial statements battered by the coronavirus crisis, especially in the most lucrative and vulnerable segment of the tech industry: enterprise.
"Over the last few weeks we have seen an IT spending environment darken unlike anything we have seen transpire in 20 years of covering the tech sector," Wedbush analyst Daniel Ives told clients in a note on Tuesday.
Instinet analyst Jeffrey Kvaal also told client Tuesday that a survey of chief information officers found that "nearly half of respondents expect the virus to drive an annual decline in IT spending."
But the impact of the downturn has been uneven. While the pandemic has pummeled key tech markets, it also led to shifts in demand trajectories and caused technology trends to happen even faster, analysts say.
Here are the 7 key trends that analysts say could lift or hurt the biggest names of enterprise tech, including Microsoft, Amazon, Google, Oracle, Dell, IBM and Intel.
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