Business Week has unveiled its predictions for the year 2005. Though the year 2004 was a real upset for the corporates, 2005 has promised to be a shinning year for the IT and the telecom companies.
The tepid gain isn't too surprising after the 47.2% jump for Info Tech in 2003. However, telecommunications stocks have fared much better this year, climbing 16%, after rising just 3.2% in 2003, amid consolidation news and more focus on dividend-paying stocks. The strongest performers in 2004 were Internet software and services (up 61%), followed by wireless telecom services (up 53%). Semiconductor-related shares were the big losers.
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