Technology Sector 2021 Outlook - A Year Of Physicalisation Of Digital? ICICI Securities
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ICICI Securities Report
2021 should present an acid test for the lofty expectations around Covid-19 led acceleration in cloud/digital adoption and cost savings.
Re-rating in Indian IT (up to approximately 41%, versus pre-Covid-19) hints at much taller expectations versus even global tech (MicroSoft, Amazon, Alphabet, ~3-17%).
More surprisingly, the consensus optimism on Indian IT seems to be ‘relatively’ pushed out into longer term.
These disproportionate/asymmetric expectations should correct in 2021.
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