IBM and technology sector surprised! by Barbora Misakova

International Business Machines Corp. or IBM is multinational corporation in New York which is concerned with computer technology and consulting. IBM is a manufacturer and seller of hardware, software, it also offers hosting and consulting services and nowadays it is known as the world's largest computer company.These days is IBM the biggest star on Wall Street stock market because its earnings for the fourth quarter were 24 % above than last year and so it was the biggest gainer of other 30 Dow Jones industrials. The Dow fell nearly 250 points on Friday, now it rose more than 170 points especially because of technology sector. IBM has gained these results especially because of high orders from Asia and Europe and thats why its earnings accelerated on $28.9 billion while analytics' forecasts were lower & about $27,7 billion.These results of IBM started a big rally in the technology sector, especially Intel's, Apple's and Hewlett-Packard's results are better. Intel, Integrated Electronics Corporation, is semiconductor company and the inventor of microprocessors also manufactures motherboard chipsets, network cards, etc. Its quarterly results rose to $23.08 which is 5 per cent.Another company Apple Computer Inc. is corporation manufacturing electronics and software products like personal computers, portable media players, softwares and hardwares. Apple's results on Wall Street are also not weak, they rose 2.5 % to $177.And another company in technology sector is Hewlett-Packard which specializes in personal computers, printers and also digital cameras. Its results in this stock rally are commendable & it grew on 5 per cent to $39.84.This tech sector has had particularly heavy selling in recent weeks, and it caused that the Nasdaq slide about 14 per cent.World of technology is too quick and always before in the face of other sectors. There is still more and more companies concerned with technologies and they tries to manufacture better products for lower prices and this creates a strong competition. Not only results from the Wall Streets are reflecting this fact.

related story: http://news.yahoo.com/s/ap/20080114/ap_on_bi_st_ma_re/wall_street;_ylt=Al6Ay83.bcMGekN7zDUh9kOs0NUE

by Barbora Misakova for PocketNews (http://pocketnews.tv)

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Edited by: Katarina Zerzanova