HP CEO Mark Hurd said the company doesn't expect demand for tech products to pick up in 2009.

Hurd says HP doesn't expect any improvement in demand from Q1. “We don’t see any catalyst,” said Hurd at Morgan Stanley's technology conference.

HP's profit dropped 13 percent year on year in Q1, and revenues from its desktop and notebook sales dropped 19 percent over the year.

When the economic crisis started last year, many were optimistic about the tech sector, which was widely seen as recession proof. However, in recent weeks Wall Street seems to be turning away from its tech darlings and focusing on the badly mauled financial sector instead.

An increasing number of tech executives are voicing their pessimism and are not expecting a fast recovery of the sector, so Hurd's comments don't come as much of a surprise.

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