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There is growing speculation that the next few months are going to be tough for many firms in the storage sector.
"Given weaker than expected outlooks and comments by Cisco, IBM, and Symantec, we are becoming more concerned about weakness in U.S. enterprise spending," warned Caris analyst Shebly Seyrafi, in a note released this morning.
Last week, during Cisco's first-quarter earnings call, CEO John Chambers also painted a less-than-rosy picture of the U.S. spending climate, highlighting "lumpiness" in a number of key market sectors.
The Cisco exec, who faced a barrage of questions from analysts about stateside spending patterns, singled out financial services, automotive, and retail as the worst-affected sectors. "We think that U.S. enterprises have really squeezed their IT departments," he added.
IBM has been telling a similar story, recently noting that its software sales were affected by the deferral of a number of large transactions at the end of September. Security giant Symantec has also highlighted spending issues, recently revealing that it is taking "a more conservative view" of its December quarter.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
