Tech Earnings Roundup: Who Wins, Loses

The downturn may drive even more advertisers over to targeted online ads, an area where Google(GOOG Quote) has the reputation for being the best brand.

Wireless devices, however, may be one of the exceptions, which brings us to Apple(AAPL Quote). A week ago, I ventured into an AT&T store and found its cramped quarters packed with a couple of dozen customers lined up to check out the iPhone. I had to remind myself that we weren't at the peak of a flush economy, but instead have suffered several weeks of gut-churning market plunges.

So it came as no surprise to see that Apple was sticking to its old tricks and beating analyst estimates. Apple's $7.9 billion of revenue in its fiscal fourth quarter came in $15 million short of the consensus, but its $1.26 a share profit blew away the $1.01 a share estimate.

Of course, Google's Android and Research In Motion's(RIMM Quote) BlackBerry will surely take strides to catch up with the features making the iPhone popular, but that's only likely to drive Apple to be even more creative.

As long as Apple maintains its innovative edge, they may remain a bright spot in tech, even during the downturn. Internet services and content is shifting to portable devices in ways that no one can see yet, but it's a big transition that will play out over a few years.

Another smart thing Apple did was put Steve Jobs on the conference call. The rumors and talk of Jobs being ill or somehow close to death's door have been silly at best, but any reassurance these days is welcome, and hearing Jobs talk about the overall climate may have helped tech overall. Apple is one of the few tech companies whose overall health can have a big impact on the sector at large.