Disk drive maker Seagate Technology (STX) forecast second quarter revenue expectations ahead of analyst estimates late yesterday, and gave its prognosis of its industry related to the record flooding in Thailand.
Hoffman expects the maker of technology for wireless phones to forecast sales of 96 million handsets--a figure he deems conservative.
Big-box technology retailer Best Buy slashed its earnings forecast Friday.
Mr Gray sees that if one is bad, both must be. (This is right: trade is just a kind of technology.) That is why he is consistent, at least, in putting technology at the centre of his dismal forecast.
While the forecast for a resurgence in Japan technology innovation appears in doubt, the prediction for Japan's automobile exports seems more enthusiastic as the yen has weakened.
CNN: 'Japan Inc.' on the brink: Weak yen a lost opportunity?
Avnet said the weak profit forecast reflects the lower revenue in the technology solutions group, lower profits margins in the Western regions in electronics marketing due to a weaker sales environment, and a greater-than-expected mix shift in electronics market, with better sales in the lower-margin Asia region more offset by weaker sales in higher-margin Western regions.
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And the damage was even greater in the once-hot high-technology sector, which has also been discouraged by a poor sales forecast for leading computer manufacturer Dell.
But the market did make a few accurate predictions about technology trends: it concluded that products based on ultrawideband technology would not be commercially available by July 2004, and correctly forecast the take-up rate for internet telephony.
For the technology sector, the change in expectations is more dramatic, from a forecast that first-quarter profits will grow by 15.2% to predictions of an 18.5% decline.
Wall Street analysts have forecast about that level of growth for the current year (thanks to renewed business spending on technology), but they had expected earnings growth to slow to less than 9% in fiscal 2011.
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