Apple's Stellar Results Boost Tech Stocks
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Apple (NASDAQ: AAPL) shares soared 6 percent on Wednesday, leading the Nasdaq to a small gain for the day.
Apple shares surged to a new all-time high after the company once again made a mockery of analysts' estimates.
Apple was the latest tech giant to signal an improving spending environment, following strong results in the last week from the likes of IBM (NYSE: IBM) and Intel (NASDAQ: INTC).
EMC (NYSE: EMC) and VMware (NYSE: VMW) were other tech names gaining on better than expected results, and Seagate (NASDAQ: STX) also edged higher on its earnings report.
CyberSource (NASDAQ: CYBS) soared 32 percent on news that it will be acquired by Visa (NYSE: V).
But not all the news was good today. Yahoo (NASDAQ: YHOO) and Juniper (NASDAQ: JNPR) fell on sales concerns.
After the close, eBay (NASDAQ: EBAY) and Qualcomm (NASDAQ: QCOM) fell 8 percent each on weaker than expected outlooks, while SanDisk (NASDAQ: SNDK) rose 4 percent after reporting a 65 percent jump in sales.
Thursday will see earnings reports from Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT), among others.
Late today, Target (NYSE: TGT) announced that it will sell the Amazon Kindle, confirming earlier rumors.