Can Apple Save Tech This Earnings Season?
Tech is one of the sectors outperforming this year. On the surface, that looks like the sector is doing great. However, when you dig deeper into the sector's performance, you see one company is to thank for almost all the growth: Apple.
In the first quarter this year, tech earnings jumped 17.1% over the previous year, double the S&P500 average. However, tech would have only seen earnings surge 4.8% if not for Apple.
With Intel and IBM starting off this earnings season on a dismal note, and Nokia set to post big year-over-year declines when it reports tomorrow, will Apple carry tech again? For the long-term investor, should you worry about Apple this quarter, or look ahead to key drivers in place during the upcoming holiday quarter?
Watch senior technology analyst Eric Bleeker's full thoughts in the video below.
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The article Can Apple Save Tech This Earnings Season? originally appeared on Fool.com.Eric Bleeker has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple, International Business Machines, and Intel. Motley Fool newsletter services recommend Apple and Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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