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March 11, 2020, 10:17 a.m. EDT

Coronavirus expected to cause 'significant slowdown' in IT hardware spend, says IDC

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By Emily Bary

HPQ

The coronavirus outbreak is expected to cause "a significant slowdown" in hardware IT spending in the first quarter, according to analysts at IDC, and the health crisis could have continued negative impacts on corporate IT spending as the year progresses. "By the end of 2020, in a pessimistic scenario, IT spending could grow by 1% compared to the original forecast of more than 4% growth, and these forecasts are more likely to trend down than up in the next few weeks," the analysts said in a Wednesday release. The report comes after companies like HP Inc. /zigman2/quotes/203461582/composite HPQ +5.71% have warned of expected negative impacts to financial results as a result of the worsening outbreak.

/zigman2/quotes/203461582/composite
US : U.S.: NYSE
$ 17.41
+0.94 +5.71%
Volume: 19.40M
June 5, 2020 4:00p
P/E Ratio
8.55
Dividend Yield
4.05%
Market Cap
$23.55 billion
Rev. per Employee
$1.07M
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