With positive news like this on RMBS INKT AAPL with the exception of AMD I can see a correction very much possible only after the earnings.. or a break to 1362 in two days if we see CPI far in excess of street tomorrow, but if we get this right we will be on to one hell of a rally, I am absolutely holding the standard all by myself (gg) last few days in a listless trading making to let thread ready and positioned for that big rally, if inflation worries are rested that is a big if! but I think we will be over it, the rally and chart rarely have fooled me but I take too much care to study my basis good, I see a rally brewing but a sell off after all the hype is capitalised but market has its own mechanics like 635 DOT to rattle people and I would like I have said would not be surprised if market before moving up may have to face some more music and surprises.. but SOX 520 is only 20 shy of my 540 target on 375 level.. fwiw this is the only visibility I have trying to do better..Y2K is going to be a dud but sensational news do sell like end of the world and other star based internet trading so I would not be surprised if it does get some currency but right now I will be looking to short below 1380 and long above 1414..
Apple's Earnings Beat Expectations
By DAVID E. KALISH AP Business Writer
NEW YORK (AP) - Apple Computer Inc.'s (Nasdaq:AAPL - news) profit nearly doubled in the recent quarter, easily beating Wall Street forecasts, as demand surged for the company's iMac desktop computer.
The results released Wednesday offered the latest evidence of a resurgence at Apple this past year, further easing any doubts over the company's prospects.
Apple's profit in its fiscal third quarter rose to $203 million, or $1.20 a share. That was up from a profit of $101 million, or 65 cents a share, in the year-ago quarter.
Excluding a one-time gain, Apple would have earned $114 million, or 69 cents a share in the three months ended June 26, exceeding the 64 cents projected by analysts surveyed by First Call.
Apple released its financial results after the markets closed. Apple shares were trading at $56 in after-hours trading after jumping 4 percent, or $2.25, during the regular trading session on the Nasdaq Stock Market to close at $55.933/4.
Revenue rose 11 percent to $1.56 billion from $1.40 billion.
Apple, based in Cupertino, Calif., credited a 40 percent rise in unit sales of computers, fueled by the iMac. Apple's share of retail desktop sales was 6.7 percent in May, double that of a year ago, according to ZD Infobeads research firm.
The iMac desktop, which has spurred a design shakeup in the PC industry since its introduction last August, is shaped like a giant jelly bean, equipped with a built-in monitor, and comes in five translucent colors through which inner circuitry is faintly visible.
Apple also profited from an unexpected drop in the cost of iMac parts, including memory and microprocessor chips, chief financial officer Fred Anderson said.
The results were someone offset by higher expenses as Apple added 500 workers for a total work force of 8,800.
Apple said its sales and growth rate are expected to rise slightly the next quarter, but will increase more strongly as the company rolls out new product lines, Anderson said.
Apple is widely expected to introduce a new consumer laptop to the market next week, but has declined to comment.
In the nine months ended June 26, Apple earned $490 million, or $2.99 a share, up from earnings of $203 million, or $1.40 a share, in the year-ago period. Revenues rose to $4.80 billion from $4.36 billion.
Rambus reported third-quarter revenue Wednesday that was 16 percent over its year-ago period, with earnings per share 2 cents above Wall Street estimates.
Rambus (RMBS: news, msgs) said its net income for the third-quarter was $2 million, or 8 cents per share, vs. $1.7 million, or 7 cents in the year-ago period.
Analysts surveyed by First Call Corp. projected the Mountain View, Calif.-based company to earn 6 cents a share.
Revenue for the same period was $10.6 million compared with $9.2 million in the year-earlier quarter. Specific reasons for the revenue jump were not given.
Ahead of the news, Rambus stock soared 7 5/8 to 97 9/16, with 1.6 million shares changing hands.
Rambus develops chip-to-chip interface technology that speeds up the exchange of signals between computer chips. According to Hoover's Online, Nintendo uses Rambus technology in its Nintendo 64 game systems
Inktomi loss less than expected
By Bloomberg News
Special to CNET News.com
July 14, 1999, 2:10 p.m. PT
SAN MATEO, California--Inktomi, which makes software used in online searches, said its fiscal third-quarter revenue more than tripled, spurred by sales of a product that makes it faster to surf the Internet.
Inktomi said it lost $5.2 million before a charge, or 10 cents a share, in the quarter ended June 30, compared with a loss of $6.3 million, or 15 cents, a year earlier.
The company was expected to lose 12 cents a share, according to the average analyst estimate from First Call. Some unpublished estimates were as low as a loss of 9 cents a share. Revenue rose to $19.6 million from $6.3 million.
One of Inktomi's top products is its Traffic Server, which helps service providers such as America Online Quote Snapshot
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offer users faster access to frequently requested information by storing the data at various points on computer networks. Traffic Server and associated products accounted for 60 percent of sales. Inktomi also makes software for searching the Internet for information and retail products.
"This company's really establishing itself," said David Hilal, an analyst with Friedman Billings Ramsey, who has a "buy" rating on the shares. "Everything's doing exceptionally well."
Inktomi has been introducing new products for searching the Internet in a bid to boost sales to online directories. The company recently unveiled a product that organizes Web sites into categories, such as travel, as well as a product that allows users to compare and evaluate retail goods sold online.
Inktomi agreed in the quarter to purchase Impulse Buy Network for $112 million in stock to bolster its shopping service.
During the quarter, sales of software for searching the Internet rose to $7.79 million from $3.23 million a year earlier. Sales of Traffic Server and associated products rose to $11.8 million from $3.06 million.
Operating expenses climbed to $26.8 million from $12.6 million.
After a charge related to its purchase of Impulse Buy Network, Inktomi had a loss of $6.3 million, or 13 cents a share.
The company said this week that it will sell 2 million shares, raising about $270.6 million, in its third public offering. Shareholders and executives will also sell 1.3 million shares.
Inktomi released its results after the close of regular U.S. trading. Its shares rose 3.31 to 128.88. It had an initial offering in June 1998 at a split-adjusted $9 a share.
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