Cisco’s CEO John Chambers and Avnet president Dick Borsboom are the latest executives to predict economic recovery later this year.
They join Ingram Micro’s chief executive Greg Spierkel in the opinion that the market is in the process of bottoming out – that is reaching the low point of consumer demand.
“It varies by technology but you could say it is about 20% down year-on-year, however we have seen in the last several months that there is no further decline,” Borsboom told Microscope.
“When we start the third and fourth quarter and compare to last year’s numbers that were already depressed then you will see that the market is actually starting to recover.”
“For the first time in many quarters many of our global customers are describing their business momentum in a different way than the prior quarters,” commented Chambers.
“They are seeing some stabilisation and levelling out and that they are finally beginning to have something solid under their feet.”