HSBC's Yogesh Aggarwal warns AI will hit IT in FY2027

Aggarwal sees FY2027 revenue 0%-2%

A turnaround is expected by FY2028, with things looking more normal by FY2029.
Revenue growth will likely stay flat (0% to 2%) in FY2027 (the current fiscal year as of July 2026) before slowly picking up in FY2028.
Aggarwal suggests investors take it slow with IT stocks right now, there aren't any big positive surprises coming soon, so patience might pay off.