Tech Industry is Putting the Financial Markets on its Shoulders

Author: admin (73 Articles)

Apple Inc. has just reported a huge 2Q, once again beating speculator’s estimates.  With $24.67 billion in revenue, profits jumped up 95 percent to just under $6 billion.  They had basically a two-pronged approach for this success.  First was their dedication to their products.  Ever increasing demand for the iPad 2, iPhone 4 (for AT&T and Verzion), and Macbooks, and with the iPhone 5 projected to come out around September, demand looks to be steady for some time.  Second, they seemed to circumnavigate logistics issues by having many contractual agreements with their component suppliers.  This is having a positive ripple effect with other companies like Qualcomm, whose chips are inside iPhones and half of Android smart phones, who posted a 46 percent increase in revenue.  Tech giants like Apple, Qualcomm, Intel, IBM, Freeport-McMoRan Copper & Gold, and United Technologies all posted higher than expected gains and overshadowed Google, AT&T, and Alcoa’s shortcomings and helped boost the stock market to a six month high.