For the first time in a long time, CFOs can say no to some tech spending
Publishing timestamp: 2023-01-19 15:59:26
Summary
Tech companies are laying off employees in anticipation of slower growth, but tech spending is still forecast to grow modestly in 2023. Cybersecurity is expected to be the most resilient spending item, but buyers are looking to consolidate vendors to save costs. CFOs are playing a bigger role in budgeting and cybersecurity is the top priority. Growth is slowing, but it is expected to be a mild recession. Companies are still investing in tech as they learned from the 2008 financial crisis that deep cuts in tech investments can lead to falling behind competitors.
Sentiment: MIXED
Tickers: PANW,
Keywords: cfo, cybersecurity, cyber threat, palo alto networks inc, business news,