Lots of tech news this week so let's get to it.
Hello, investor? It's me, tech earnings season
Ah, earnings season. Many techies reported this week but, with limited space, I want to focus on two bellwethers: Intel (Nasdaq: INTC ) and IBM (NYSE: IBM ) .
First, on Tuesday evening, Intel announced results that handily beat Foolish forecasts. Revenue was up 9%, net profit improved 25%, and owner earnings jumped 43%. Wowsa.
Then, last night, Big Blue reported a 22% bottom-line gain and raised its full-year earnings outlook by $0.25 per share. Strength overseas, where IBM earns more than 50% of its revenue, added 7% of the firm's 13% top-line gain. Who says tech is dead?
Apple just killed AT&T
Did Apple (Nasdaq: AAPL ) just stab AT&T in the back? I'd say so. Mr. Mac gave Truphone, a Voice-over-Internet-Protocol phone service reminiscent of Skype, a spot in its iPhone App Store. Expect thousands of users to turn to Wi-Fi to circumvent Ma Bell's network as often as they can, including yours truly.
Much as I love owning an iPhone, the AT&T service in my basement office is just short of throw-this-piece-of-junk-out-the-window awful. I'm anxious to see how well Truphone -- and another Web-based app I've found -- frees me from the tyranny of zero bars. More on that next week.
More digital news you can use:
- Microsoft still can't let go. Last weekend, it unsuccessfully bid for Yahoo!'s search business. Get the details here.
- Seagate (NYSE: STX ) , again, badly missed Wall Street's estimates and is beginning to look like one of the world's worst stocks.
- Tech insiders are buying in increasing numbers, including the management teams at Rule Breakers recommendations Sigma Designs (Nasdaq: SIGM ) and Bankrate (Nasdaq: RATE ) .
- And finally, I've a fond farewell for Hector Ruiz, who steps down this week as CEO of Advanced Micro Devices (NYSE: AMD ) . By my observations, Ruiz has been a tough, honest competitor who scored a huge victory against Intel with Opteron but lost just as big on an ill-conceived deal for ATI. Still, I love the guy for making AMD relevant again. Thank you for your hard work, sir.
That's it for the week in tech. See you back here next Friday and, in the meantime, Fool on!