Wednesday, July 19, 2006

Strong Apple Earnings and More

From Dow Jones Newswire:

Apple (AAPL) said it earned $472 million, or 54 cents a share, for the period ended July 1, up from $320 million, or 37 cents, a year earlier. Oppenheimer added that Apple's gross margins rose to 30.3% from 29.7% a year ago.

The results topped the average estimates of analysts surveyed by Thomson First Call, who expected 44 cents a share.

Revenue climbed 24% to $4.37 billion, up from $3.52 billion but just shy of Wall Street expectations for $4.4 billion.

Additionally, eBay (EBAY) and Motorola (MOT) earnings were strong. This should bode well for the market. We needed it after that Yahoo (YHOO) bomb. Intel (INTC) didn't do that hot, but everyone was expecting that for the most part.

General Dynamics (GD) kicked major butt as well. Will we finally have a market recovery? I certainly hope so.

And, to top it off, Bernanke had good things to say about inflation and interest rates. Looking for a solid follow-through tomorrow. Finally, a day where I'm not frustrated about the market's pissy mood.

No comments: