The death of the personal computer has been greatly exaggerated. This was confirmed by Intel’s (NasdaqGS: INTC) record quarter which the company reported yesterday after the close. The company’s shareholders were rewarded today with Intel’s stock closing up 7.80% at $21.41 (chart). The stock also soared past its 50 day and 200 day moving averages, which certain market technicians pay attention to and act upon.
The pundits have been claiming that the P.C. market is being cannibalized by the proliferation of the latest craze in tablets, especially the iPad. One of the factors these experts have failed to consider is how much P.C. demand there is in the emerging market space and the rest of the world for that matter.
That said, Apple (NasdaqGS: AAPL) just reported their earnings after the close today and they too blew out their quarter with revenues up an astonishing 83% reporting a net profit of $5.59 billion. The growth of Apple and the demand for its products is simply unbelievable. It appears that this bull market has more room to run.