This will be a critical week for tech investors, and if last week's news from Intel and Google was any indication, the news ahead could be very good indeed.
Yeah, yeah, I know Google took a bath on Friday, but not because of its financial performance. This was a great report on so many levels, but in this accentuate-the-negative/sell-on-the-news/heaven-help-me-I-can't-be-long-going-into-a-weekend climate, Google shares got clocked. This company reported a $5 billion quarter, and earnings soared past expectations. All the key trends are swinging into Google's wheel house. Keep that in mind as we look ahead to this week.
Same goes for Intel. I said when these numbers hit the tape that they were blockbuster. And the trends they highlight will carry through this week as well.
I'll have more complete previews of each of these companies in coming days, but here's a quick overview of what I'll be watching this week:
Monday, IBM reports. The enterprise is spending again, and all indications from everyone from Hewlett-Packard to Cisco Systems, to Intel's commentary on corporate clients would suggest the potential of a good quarter past and good guidance ahead for Big Blue.
Tuesday, Apple and Yahoo report. I can't find a single analyst who doesn't believe Apple won't beat. Commentary will be key. IPad is doing very well, Mac sales continue to be robust. Retail has been on fire, and every market researcher seems to indicate that PC sales are trending better than expected, and that Apple continues to do better than the overall market. For Yahoo, look no further than Google's report. Yahoo's trading at a 52-week high and it appears this company might be on the verge of a break-out, rather than peaking.
Wednesday, we'll get eBay's numbers. This company has also been surging lately. To call this a renaissance under CEO John Donahoe over the past year is an understatement. EBay may also give us a window to Amazon's earnings.
Thursday, we'll get Amazon's report. Every indication seems to suggest that online retail is picking up, and Amazon sits pretty. Lots of attention is placed on iPad's competition with Kindle and how that might affect Amazon's numbers. Kindle is such small potatoes to the overall Amazon revenue picture that the horserace is more like a red herring. Amazon is in good shape. Likewise for Microsoft, which also reports Thursday.
The Windows 7 upgrade cycle is in full swing, Office 2010 comes in June which will ignite the enterprise upgrade cycle, Intel shows that PC sales are humming, Project Natal for Xbox is on the way. I haven't seen a product pipeline for Microsoft this exciting in years. Like Intel, Microsoft trades in a narrow range and might be better suited for traders instead of investors, but this earnings report should embolden the bulls.
Strap in for a very busy week. This could be some very good times for tech investors focused on the sector's biggest names and the best players in the markets they serve.
Questions? Comments? TechCheck@cnbc.com