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ā¢ The demand for cloud services has slowed down, leading to a cautious outlook for the next two quarters from major players like Microsoft, Alphabet, Amazon, Meta, Apple, and Tesla.
ā¢ The slowdown in cloud migration and modernization is expected to continue until late 2024, with a potential acceleration in the second half of 2024.
ā¢ The slowdown in demand from cloud hyperscalers may also impact the revenue and growth of Indian IT services companies in the first and second quarters of FY25.