SAN FRANCISCO – Was it the beginning or the end? As 2013 hurdled to its conclusion, the debate on 2014 had just begun: Is the tech industry on the verge of a renaissance or is the bubble about to burst?
The glass-half-full types point to Twitter's titillating IPO; the other half insist that's when investors cashed in on social media's hype.
The truth, as always, is somewhere in the middle. It's indisputable Twitter's public offering will usher in a wave of IPOs. But the payoffs may not match the froth of the microblogging service, forcing would-be IPO candidates to seek corporate suitors. Indeed, Twitter shares are hovering near $65, up 44% from its opening day of trading Nov. 6.
The social media storm comes against a backdrop of wrenching changes. Tech's old guard — Microsoft, Hewlett-Packard, Dell and Cisco Systems — continues to wrestle with the slowly dying PC market; smartphone sales, meanwhile, are expected to top 1 billion in 2014 — roughly three times the population of the USA. (By early October, there were more than 1.5 billion smartphones in use worldwide.)
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Via Marylene Delbourg-Delphis