Seasonality of IT stocks

There is an interesting article that I hit across that highlights the seasonality of behavior of IT stocks. From 2001-2006, the Swift companies (Satyam, Wipro, Infosys & TCS) have given negative returns absolutely and relatively (wrt Sensex) in first half of calendar year and outperformed in second half. Infosys has given negative return in all six years in first half but delivered strong returns in the second. Similar story for the other companies. The reason is that the financial out performance of IT companies is only clear in Q2 & Q3 of the financial year. Added to that, there were not many sectors that gave returns as IT did and the money would flow there. A similar result could be expected even in 2008. Though positive news against US recession & rupee weakening can add life to the beaten down stocks.