Much is moving in the tech sector.
IBM almost acquired Sun Microsystems, but backed out. Oracle went in immediately after and sealed the deal.
IBM posted bad results, missing analyst estimates. Considering IBM wasnt posting bad results when the financial industry starting going nuclear, this shouldnt have bode well for other tech counters. But...
Google beat estimates .(amazing considering their reliance on advertising)
Apple beat estimates.
EBay beat estimates. (also amazing)
More reports are coming due, but consider that Apple's products fall firmly into the expensive and luxury good categories.
Also consider that both Google and EBay rely heavily on individuals clicking on their ads and closing auction deals respectively. Once again, the connection to discretionary spending is obvious.
Isn't the country in recession?
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
Maybe tech is serious.
Post a Comment