It's time for the tech sector to put its money where its mouth is.
Many have pointed to this sector as a post-recession leader, and
while exchange traded funds (ETFs) have outperformed, the real
proof will be in earnings season. This week, a number of big names
will be revealing the numbers.
The earnings that have come out so far have been positive:
- Google's (NASDAQ:
) profit jumped 37% in the first quarter and said it has a
"strong M&A pipeline in place."
- IBM (NYSE:
) reported a 13% increase in profit and raised its outlook for
the year. IBM has become a leading example of the
postmultinational global corporation,
reports Steve Lohr for
The New York Times
. IBM now makes two-thirds of its revenue abroad, with revenue
from emerging markets increasing by 20% in the first
- Intel (NASDAQ:
) said that the first quarter was its "best first quarter ever"
and total income surpassed $2.8 billion, an increase of 288%. [
Intel's First-Quarter Results.
Like Intel's better-than-expected earnings report last week,
) results after the close today are expected to be fruitful, backed
by strong Mac and iPhone sales,
Larry Diggan for ZDNet
. Additionally, Yahoo (NASDAQ:
) and Microsoft (NASDAQ:
) revenue results will also be rolling out today and Thursday,
All those strong earnings have prompted tech companies to step
up their hiring,
The Wall Street Journal
. In some cases, companies are locked in a heated battle for the
biggest brains. It's a nice change of pace for an industry that
just one year ago was implementing mass layoffs. [
4 Reasons Tech Could Go Boom.
For more information on the technology sector, visit our
iShares S&P North America Tech-Semiconductor
Technology Select Sector SPDR (NYSEArca:
PowerShares QQQ (NASDAQ:
ProShares Ultra Technology (NYSEArca:
First Trust NASDAQ-100 Technology (NASDAQ:
Max Chen contributed to this article.