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Maybe Apple really is recession-proof.

When Shaw Wu of American Technology Research made that claim earlier in the year, I concurred with my colleague Charlie Cooper, who wondered what expensive strain of finely cultivated California parsley was in Mr. Wu's pipe when he wrote that report.

Even Wu recanted just before Apple's earnings report Wednesday, cutting his expectations for the company amid concerns about the economy and the fact that Apple isn't expected to release any significantly new products until the 3G iPhone.

It seems, however, that people like Apple's current products just fine. Apple's … Read more

At about 2 p.m. Pacific Time, Apple executives began to recap the company's second quarter. This is a record of the call with updates as they came. You can also check out the numbers here. The Mac had a stellar quarter, and the iPhone and iPod divisions made solid contributions.

2:01 p.m. PDT: We're waiting for Apple executives to come online to discuss their second-quarter earnings, which they'll probably enjoy. If you haven't seen the numbers yet, Apple's revenue increased by 43 percent compared to last year, while profits were up 36 … Read more

Apple erased any assumptions on Wednesday that a slowdown in U.S. consumer spending is negatively affecting its bottom line.

The company reported revenue of $7.5 billion and net income of $1.1 billion for its second fiscal quarter (PDF), which ended March 29. The net income translates to earnings per share of $1.16, and both the revenue and earnings per share blew away Wall Street expectations of $6.9 billion in revenue and earnings per share of $1.07.

As has been the case the last several quarters, the Mac led the charge for Apple. Mac shipments … Read more

Come back to CNET News.com at 2 p.m. PDT (although we sincerely hope you never leave) for a live blog of Apple's second-quarter earnings conference call.

The key things to look out for are Mac shipments, iPhone momentum, and Apple's forecast for the next quarter, which tends to dictate how the investment community responds to the earnings reports. Reporters are not allowed to ask questions during the calls, only the financial analysts are granted that privilege, which usually means you have to sit through a couple of minutes of "great quarter, guys."

The numbers … Read more

Recession fears, rampant iPhone unlocking, and a pessimistic outlook dinged Apple at the beginning of this year, but surging Mac shipments appeared to have the company in good shape as it closed out the quarter.

Apple is set to announce its financial results for its second fiscal quarter on Wednesday after the close of the stock market. The company has not appeared overly bullish on this particular quarter, issuing guidance well below its usual conservative outlook in January and admitting at its shareholder meeting in March that the industry is going through "concerning times" right now amid a … Read more

Updated 3:35 p.m. PDT with additional details and comments from conference call.

As we already knew, times are still tough for Advanced Micro Devices.

The company reported its first-quarter financial results Thursday after the close of the market, and it continues to lose hundreds of millions of dollars. AMD had already warned investors that revenue would fall short of early expectations, and the official number, at $1.5 billion, was in line with the revised expectations.

For the quarter, which ended March 29, AMD lost $358 million based on generally accepted accounting principles, but that number includes $50 … Read more

Crude oil prices are at an all-time high. The housing market keeps getting worse. Your 401(k) is probably in the tank, and, oh yeah, unemployment is up.

Now here's the good news: Intel executives aren't as freaked out about the economy as the rest of us. In earnings news that had to have had many breathing a sigh of relief, Intel announced Tuesday afternoon that its first quarter, while admittedly difficult, beat Wall Street expectations. More importantly, Intel executives signaled confidence in the year ahead.

"What we're seeing is growing strength in the core business,&… Read more

Updated 4 p.m. PDT with executive comments from Intel's conference call.

Intel's first-quarter earnings should go a long way toward reassuring the tech industry that the world is not coming to an end.

The chipmaker reported revenue of $9.7 billion, up 9 percent from the same period last year and a little better than Wall Street analysts were expecting. Net income was $1.4 billion, or 25 cents a share, in line with the company's revised expectations after realizing its flash memory business went in the tank for the quarter.

But in Intel's regular … Read more

If you want to gauge the tech winds, follow Intel.

At least, that's the theory employed by economists trying to forecast the performance of the high-tech industry in uncertain times over the last two decades. The world's largest chipmaker is thought to be an early-warning sign of things to come; trouble ahead if Intel's in red.

We already know that the two companies were disappointed in their performance during the quarter. Back in March, Intel had already made the decision that plummeting flash memory prices would dent its earnings for the quarter. AMD waited a little longer, … Read more