Yeah, tech earnings thus far have been hit or miss – some good, some bad (relatively speaking, that is). One thing to remember, however, is that lots of these companies are only meeting or beating estimates because of their overseas business and the appreciation of foreign currencies versus the dollar. Maybe the dollar will continue to tank and they’ll continue to get that benefit, but it seems like the rate of the dollar’s decline will slow going forward. So, it follows logically that that benefit will become less and less helpful going forward. I think if you backed out the currency adjustments tech earnings would look considerably worse this quarter (and the last couple).
