Tech feels first pinch of global downturn

While not everyone’s favourite Tech company, Microsoft shares are a good bet in times of looming recession and economic downturn.

Although it certainly has a large enterprise business, Microsoft may still be a good bet in uncertain times, Jeffries analyst Katherine Egbert said in a research note on Monday. “Seek safety in Microsoft’s numbers,” Egbert said, noting that, following its recent decline, Microsoft shares represent a “solid refuge”. On the flip side, those likely to be hit hardest are technology firms that cater exclusively to the financial services industry or get a lot of their revenue there. “That’s a subset that is probably going to get hammered,” Vertin said. “I am aware of a number of software and software-as-a-service companies that have had contracts delayed or stopped altogether.”