Bottom Line: Spending on information technology is increasing at the fastest annual rate since the mania of the late 90's. Unlike the bubble period, current spending is from companies with solid balance sheets and real business models. Moreover, corporate IT spending, which is highly correlated to labor growth, should accelerate throughout the year. Researcher Gartner Inc. now expects PC sales growth of 14% in the second quarter, matching their prior projections for all of 2004. A need to replace almost 100 million obsolete PCs this year will also contribute to gains, Gartner said.
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