Apple's Mac Strength could keep Tech Industry on a Roll

From CNET
Recession fears, rampant iPhone unlocking, and a pessimistic outlook dinged Apple at the beginning of this year, but surging Mac shipments appeared to have the company in good shape as it closed out the quarter.

Apple is set to announce its financial results for its second fiscal quarter on Wednesday after the close of the stock market. The company has not appeared overly bullish on this particular quarter, issuing guidance well below its usual conservative outlook in January and admitting at its shareholder meeting in March that the industry is going through "concerning times" right now amid a consumer credit crunch.

Nonetheless, Wall Street is expecting Apple to report earnings per share of $1.07 on revenue of $6.9 billion, while Apple's own guidance calls for earnings per share of 94 cents and revenue of $6.8 billion. Apple is notorious for underpromising and over-delivering when it comes to its own guidance, which probably accounts for the discrepancy. But with the overall tech industry reporting healthy numbers over the past few weeks, and Apple's Mac shipments appearing to be strong, the company should be in decent shape.

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