Tinman Michael Dell is predicting a 2012 which falls in line with Mayan prophecies for the end of the world. (They are not Mayan, they are made up by New Age gits. sub.ed.)
Dell slashed its 2012 revenue forecast as an already weak outlook for technology spending this year worsened, sending its shares more than 7 percent lower. He also cut his full-year revenue growth estimate to just one to five percent, from five to nine percent previously, citing growing uncertainty about whether government and corporate spending on everything from servers to software can hold up in the face of flagging economic growth.
The figures do not look good for rivals such as HP which is more reliant on consumers. The outfit is trying to turnaround after several disappointing quarters. Analysts are expecting to see similar problems with HP as there appears to be a “pause" in technology business spending.
Dell Chief Financial Officer Brian Gladden said in an interview that it is a bit of an uncertain environment at the moment.