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Crisis or correction? Tech giants plan for an uncertain future

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In general, you’d be hard pressed to find a sector that is as optimistic by nature as tech. It is an industry through which the Kool-Aid flows freely. But as stocks tumble and giants cut back, some fear things could get even worse before they get better.

“Another day of the sky not falling in,” Pat Phelan, the entrepreneur, tweeted in response to a recent article indicating that we may not be heading towards economic catastrophe just yet. It is the same message he’s been texting to friends and acquaintances, who seek him out for his views on what has been dubbed the “tech wreck”.

Over the past few months, the value of technology stocks has fallen dramatically, with even seemingly untouchable ...

 

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