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A 6% reduction in technology spending by the city of Seattle could portend slower sales at tech...

A 6% reduction in technology spending by the city of Seattle could portend slower sales at tech firms Microsoft (MSFT), IBM, and Intel (INTC). The city's CTO plans to delay upgrades, cut service contracts, and look for cheaper hardware in an effort to meet his slimmer budget. Gartner's Richard Gordon sees a larger trend of pervasive pessimism hitting tech spending - warning the industry will need to prepare for "general downward pressure everywhere."
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