The coronavirus outbreak seems to be the main topic of conversation in most companies right now. As the virus continues to spread in China and around the globe, the health impacts and risks are on everyone’s minds.
I have read several interesting articles that examine the impact of the virus on the tech industry. One article posted on the CIODIVE website indicates that the impact on the tech industry is just beginning. https://www.ciodive.com/news/coronavirus-technology-market-impact/573219/
The article states “The outbreak promises a direct impact on business operations, with the potential to hinder work travel. Technology companies are withdrawing from events worldwide, taking precautions to limit staff exposure to public gatherings of people.”
Conferences and business travel in general are affected because the technology workforce constantly circles the globe. Although the CDC has issued some guidance, it is up to the individual business on how it limits travel or participation in conferences and events.
The article also notes that the stock market and sales forecasts are taking a hit. It states “The key is uncertainty. Businesses are changing forecasts because they are not sure of how great the potential of the coronavirus to impact normal business operations. For some companies, business as usual is in sight.” In fact, some companies may be able to capitalize on the outbreak. The article states “Analysts at Investor’s Business Daily outlined three stocks — Zoom Video, Domino’s Pizza and Netflix — that have a rosier economic outlook.”
It is certain that the tech manufacturing industry has been hit by the coronavirus outbreak. My next blog post will take a look at the impact of the virus on the production of hardware and other goods.
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