It’s official: We love our iPhones and MacBooks. That love helped propel Apple (NASDAQ: AAPL) to its most profitable quarter ever last year as big sales led to an almost 50% jump in net income. As other tech giants line up to announce earnings, watch those related exchange traded funds (ETFs).Thanks to strong sales of iPhones and Macintosh computers, Apple was able to surge to its best quarter ever. And things are only about to get brighter for the personal computer and smartphone maker: in just two days, Apple is expected to unveil its latest “must have” gadget. [Other tech companies with positive earnings.]
That gadget is rumored to be the iSlate, a 10- or-11-inch touchscreen tablet computer. [How consumer spending is helping tech ETFs.] Just as the iPhone and the iTunes App Store created new business opportunities for game and mobile application developers, newspaper and magazine publishers are hoping that the iSlate will similarly transform their beleaguered industry, says Brad Spirrison for appolicious.
Texas Instruments (NYSE: TXN) also announced earnings, saying that its fourth-quarter profit soared as factories used more of its chips. The chipmaker also noted that those factories are seeing lower inventory, which could keep demand strong this quarter.
For more stories about technology, visit our technology category.
- Technology Select Sector SPDR (NYSEArca: XLK): Apple 8.3% of holdings; Microsoft is 10.6%
- iShares Dow Jones U.S. Technology (NYSEArca: IYW): Apple 9.4% of holdings; Microsoft is 12.4%; Texas Instruments is 1.9%
- First Trust NASDAQ-100 Tech (NASDAQ: QTEC): Apple is 2.8%; Microsoft is 3%
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.