Tech Inc's invincible aura fades

"Hopes are evaporating that top technology companies will offer a safe harbor this year from the economic storms swirling across Europe, Asia and the United States.

Investors should brace for some of the biggest names in software and hardware -- from Microsoft Corp and IBM to Intel Corp -- to disappoint when Big Tech begins reporting numbers next week, analysts said.

The trio's shares are all in the red for July, in the wake of earningswarnings over the past week from smaller peers, including Advanced Micro Devices Inc, Applied Materials Inc and Informatica Corp.

Corporate IT budgets have historically proved more resilient to worsening macro-economic conditions than other kinds of spending, because businesses invest on the assumption that technology boosts productivity and helps save them costs over the long term."