Instant view: Apple, IBM results beat Street
(Reuters) - Apple Inc smashed Wall Street's sales forecasts for the holiday quarter, the day after announcing its Chief Executive Steve Jobs would take leave for medical reasons.
The following are immediate comments from investors and analysts:
STEPHEN MASSOCCA, MANAGING DIRECTOR, WEDBUSH MORGAN
"Clearly it's a huge number. You got the feeling it would be a good number when they announced Steve Jobs' medical leave earlier. They weren't going to follow that up with more bad news."
"It's pretty clear this was a massive beat ... significantly better across the board and better than some of the more bullish whispers going around."
BRIAN MARSHALL, ANALYST, GLEACHER & CO
"Apple's results were equivalent to IBM and very solid all around."
"iPad was the most impressive. They reported more than 7.3 million iPad sales versus my expectation for 6.3 million."
On the same day, IBM beat Wall Street's expectations for the fourth quarter and forecast higher profit for this year. Its shares rose 2.8 percent after hours.
BRIAN MARSHALL, ANALYST, GLEACHER & CO
"It was very solid all round. Service signings were very positive so this is indicative of solid trends."
"The results from IBM as a tech juggernaut were very solid."
CHANNING SMITH, PORTFOLIO MANAGER, CAPITAL ADVISORS
"At first glance, looks like a very solid report."
"Across the board, looks like all segments performed well. One of the key issues for IBM was the services area, and I think that was a big concern for investors. It wasn't a knockout, but I think you saw revenues increased 2 percent."
"What you're seeing with IBM is a company that continues to execute, they've shown tremendous earnings consistency over the last couple of years and they have excellent earnings visibility."
Credit: Reuters (www.reuters.com)
No comments:
Post a Comment