The technology sector was a leader in the stock market rally on Monday, as Dow Jones Industrial Average gained 23.88 points, or 0.23 percent and the Dow Jones U.S. Technology Index gained 0.76 percent.
Intel, HP, and Microsoft were among the leaders of the Dow. Microsoft rival Apple released earnings in after-hours that blew away estimates. Its earnings per share of $3.67 beat Wall Street expectations of $2.07 and is up from the $2.54 figure a year ago.
It reported revenues of $15.68 billion, which is up 32 percent year-on-year. Fifty-eight percent of its revenues were from international sales.
Apple reported tremendous growth in its sales of Mac computers and iPhones year-on-year, although its iPod sales declined 8 percent from a year ago. The decline in iPod sales is partially attributed to canalization by the iPod touch.
The quarterly figures of iPhone and Mac sales and the overall sales figure were its highest ever. The Mac sales figure, a 33 percent year-on-year growth, compares with computer industry sales growth of 17 percent for the same period, an Apple representative said today during the company’s first quarter earnings conference call.
Apple, which was up $5.12 during the day, is trading up $2.63 to $205.5 in after-hours trading. Overall, it is still up $7.75, or about 3.9 percent for the day.
Intel and HP pared their gains in after-hours trading, down 0.44 percent and up 0.18 percent, respectively, while Microsoft is up 0.34 percent.
Last Updated 6:13 p.m. ET