IT spending is likely to be even lower this year than initially expected but should start to revive in 2014, according to JPMorgan Chase.
An new estimate in a report released Thursday by JPMorgan Chase analyst Mark Moskowitz calls for growth in IT spending of just 0.6 percent this year. That's down from the previous forecast of 1.2 percent.
Moskowitz expects businesses to spend less on IT hardware, which accounts for a huge part of the lower estimate. Companies have been shifting more of their cash away from traditional computers toward mobile devices.
Moskowitz now expects spending … Read more