Cloud Computing: How Apple, Microsoft are benefiting from tightening IT budgets
March 23, 2016
Grazed from MarketWatch. Author: Wallace Witkowski.
As expected growth in corporate tech budgets shrinks, capital investment priorities are sharpening with an increased focus on network security and cloud adoption, and that’s good news for some tech companies like Apple Inc. and Microsoft Corp., while bad news for others, like Cisco Systems Inc.
Corporate tech budgets are expected to grow by 1.2% in 2016, down from an earlier estimate of 3.1% in October, according to a survey of 50 chief investment officers by Nomura Securities. In 2017, those same CIOs expect growth of 2.3%, for now. Where that money will be spent matters to tech companies…
According to Nomura, 82% of CIOs cited security as the top driver of spending in 2016, up from 80% when the firm conducted the survey in the fall. The next biggest drivers were cloud computing and big-data spending, at 62% and 60%, respectively, both slightly increasing from the fall survey…
Read more from the source @ http://www.marketwatch.com/story/how-apple-microsoft-are-benefiting-from-tightening-it-budgets-2016-03-22