by Corinne
2. October 2008 10:00
What effect will the global economic crisis have on the tech industry? With the unchartered territory economies in the Western world are now entering, only time will reveal the full impact the current unprecedented situation will have on any industry sector.
However, a glimpse into the gloom that could be afoot for the computing world came on September 29 when shares fell sharply for Google, Microsoft and Apple.
By close of business on Monday September 29, Apple stocks had fallen 18 percent, Google stocks dipped to below $400 for the first time in two years, dropping 11.6 percent, and Microsoft shares fell 8.7 percent.
The dramatic news came following an assurance by Microsoft CEO Steve Ballmer that the tech industry was buoyant despite the credit crunch.