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Tech is one of the sectors outperforming this year. On the surface, that looks like the sector is doing great. However, when you dig deeper into the sector's performance, you see one company is to thank for almost all the growth: Apple.
In the first quarter this year, tech earnings jumped 17.1% over the previous year, double the S&P 500 average. However, tech would have only seen earnings surge 4.8% if not for Apple.
With Intel and IBM starting off this earnings season on a dismal note, and Nokia set to post big year-over-year declines when it reports tomorrow, will Apple carry tech again? For the long-term investor, should you worry about Apple this quarter, or look ahead to key drivers in place during the upcoming holiday quarter?
Watch senior technology analyst Eric Bleeker's full thoughts in the video below.
Breaking News: Apple sends out invitations for big event!
10/17/2012 – Apple sent out invitations for a big event Oct. 23 in San Jose, Calif. The event is expected to reveal the next big Apple product. We've compiled a special report on what this announcement means for Apple investors and it's available now to members of our Apple report. To find out how to play this announcement, click here now.