The one really disappointing tech report for Q3 was IBM’s says Mike Tarala, markets technician at Covestor, in an interview with the E-commerce Times.
Big Blue (IBM) is often viewed as a bellwether for the industry, and rightfully so, Tarsala says, as it plays broadly in the hardware, software and tech services sectors.
He says the report is not a death knell for the tech industry or stocks in the group. Yet the poor revenue results may suggest that fourth-quarter expectations among other tech companies may need to come down further.
The tech industry is schedluled to have a news-heavy week, with Apple (AAPL) expected to announce its iPad Mini, as well as upcoming Q3 earnings for both Apple and Facebook (FB).
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