Tech sector poised to grow again

The economic climate may still be gloomy, but experts say that the tech sector is in far better shape than other U.S. industries such as autos, financial services and real estate. Unlike the dot-com bust in 2001, the tech sector had enough warning signs to cut costs and make hard decisions early. And they are ready to climb back out of the recession, many tech experts say.

"Have we learned from previous mistakes? Absolutely," Niklas Savander, executive vice-president at Nokia, told Business Week. "Not everyone has managed perfectly, but I would say the tech industry has managed it better than others."

Nasdaq has rallied this past month. Shares of tech stocks such as Cisco Systems, IBM, Research in Motion and Apple have risen at least 10 percent in 2009. While there is plenty of optimism, tech retail sales slid 10 percent in March, and some analysts still think there will be plenty of additional declines before the economy gets back on level footing, says a Business Week article. And that means companies still have to stay on target and keep things lean and mean.

For more on tech and the economy:
- check out this BusinessWeek.com article

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