Analysts, one must presume, obtain most of their insights from corporate managers, who are most intimately aware of the potential gains from technological synergies and networking economies. According to IBES, a Wall Street firm, the three- to five-year average earnings projections of more than a thousand analysts, though exhibiting some signs of flattening in recent months, have generally held firm.
Such expectations, should they persist, bode well for continued capital deepening and sustained growth of structural productivity over the longer term. Admittedly, however, shifts in the growth of structural productivity are clearly visible only in retrospect. The adjustment to a more sustainable supply-demand alignment is occurring in the economy more broadly, as well as within some high-tech sectors.