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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Mkilloran who wrote (79127)	4/14/1999 6:08:00 PM
From: John F. Dowd	Respond to of 186894

This should take the curse off the CPQ mantra that the market is dead: Apple tops target as IMac carries day Computer maker's earnings up 58%; sales up 9% By Brenon Daly, CBS MarketWatch Last Update: 6:00 PM ET Apr 14, 1999 Earnings CalendarCUPERTINO, Calif. (CBS.MW) -- Apple Computer outran analysts' earnings estimates Wednesday as fiscal second-quarter profit surged 58 percent on hot sales of its flashy IMac line of personal computers. Today on CBS MarketWatch Net pummeling jars market Apple profit shines as IMac carries the day Ameritrade handily tops earnings estimates Buffett's boffo for Britain, but Europe looks glum Live from London: A wonderful Web More top stories... CBS MarketWatch Columns Updated: 4/14/99 5:18:12 PM ETThe Cupertino, Calif.-based company (AAPL: news, msgs) booked its sixth consecutive profitable quarter with a profit of 60 cents per share, up from 38 cents in the same quarter last year. Analysts expected the company to earn 57 cents per share. "It looks good -- a very solid quarter," said A.G. Edwards analyst Jimmy Johnson, who had predicted profit of 56 cents a share. Sales rose 9 percent to $1.53 billion on healthy sales of IMacs and Apple's G3 desktop product. Overall sales for the third quarter will be higher than the $1.53 billion the company posted in the second quarter, Apple chief financial officer Fred Anderson said in a conference call. Easing concerns The report may ease some concerns investors had about computer sales. Compaq (CPQ: news, msgs) said last week it will earn about half of what analysts expected. See related story. Intel -- often viewed as a proxy for the health of the PC industry -- reported first-quarter sales Tuesday that lagged most Wall Street estimates. See related story. Ahead of the release, Apple shares climbed 1 1/8 to 35 3/4. Anderson said the company has avoided the slowdown that hit many other personal computer makers largely because it doesn't make a lot of its sales to the corporate market. Many businesses have cut back spending on PCs ahead of the Year 2000. Instead, Apple does a lot of its business with students and designers. Customers snatched up IMacs at a rate that "exceeded our most optimistic forecast," Steve Jobs, Apple's interim chief executive, said in a release. JFD