Apple and Yahoo Stay Hot

Silicon Valley earnings go 2-2

By Scott Budman
|  Tuesday, Apr 20, 2010  |  Updated 2:15 PM PDT
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Silicon Valley High-Tech Company Tour

Apple & Yahoo both report strong earnings.

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Lest you think Silicon Valley has lost its momentum, back come two more companies knocking their earning numbers over the fence. 

Apple (AAPL) and Yahoo (YHOO) each reported strong quarterly numbers Tuesday afternoon, lending more credence to the recent rally, being led by tech stocks.

Apple, especially, is firing on all cylinders, lost iPhone prototypes aside.  The company says it sold 8.8 million iPhones over the last three months, with Mac computer sales also strong.  Apple investors, who have been living in investor heaven for several years now, are watching Apple shares soar in after hours trading.  At last check, Apple stock is up more than $16 a share since the results came out.

A more tepid response greets Yahoo's numbers, even though the dot com giant has to be breathing a sigh of relief.  Yahoo reported first quarter earnings that nearly tripled, it's best quarterly numbers since CEO Carol Bartz  took over the company reins 15 months ago. 

Display advertising jumped 20 percent from last year.  Even though Yahoo's numbers came in ahead of Wall Street guesses, early trading in the extended hours sent shares down a bit, coming after a recent run-up.

You can follow Scott Budman's earning reports and more on Twitter: @scottbudman

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