Chip Dip:

Charts by David Foster

Chip Dip:

By Tara Kalwarski

Businesses have cut information technology spending, with semicon-ductor sales down 29% over last year. U.S. companies’ tech spending as a share of GDP is now below that of the 2001-02 tech bust. The good news: Tech companies have a lot of cash, and per-share profits remain lofty.