Already markets are selling off post-bell.
Earnings from IBM aren’t helping.
Hopes for a quicker rebound were fuelled last week by strong earnings from Intel. The chip company put its performance down to better demand from corporate customers, which account for the lion’s share of spending on technology.
However, IBM’s revenues grew by only 2 per cent in the second quarter of the year, half the growth rate most analysts had been expecting, prompting a 4 per cent fall in its shares in after-market trading.