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Amid the rising adoption of advanced technologies, the IT services and consulting market is expected to grow exponentially. Moreover, as governments worldwide are reinstating lockdown and travel bans to limit the spread of the highly transmissible omicron variant of the coronavirus, the demand for IT services and consulting is expected to rise further in the near term, owing to increasing dependence on hybrid working models. According to a Gartner , Inc. (NYSE:IT) report, worldwide IT services spending is expected to reach $1.2 trillion in 2021, representing a 9.8% increase from 2020. Therefore, both ACN and DXC should benefit.
ACN has gained 61.9% over the past year, while DXC has returned 36.3%. Also, ACN’s 53.4% gains year-to-date are significantly higher than DXC’s 22.1% returns. Moreover, ACN is the clear winner with 52% gains versus DXC’s 11.1% returns in terms of the past nine months’ performance.
