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Apple's Not a Hardware Company: Tech Weekly

Internet real estate company Zillow (Z) blew past Wall Street's fourth-quarter estimates on Wednesday, much to the delight of investors.

"It was a terrific quarter, ending a great year. I'm really proud of the year we had this year," Rascoff said in an interview with TheStreet.

Zillow ended the week up 25.08% at $44.93.

Rackspace (RAX - Get Report) shares, however, took a pounding on Tuesday after the company missed analysts' fourth-quarter revenue estimates.

"We're in a 'prove me' kind of state, where we have spent a lot of time, all of last year, building out a new cloud platform," Bryan McGrath, director of finance at Rackspace, told TheStreet. "Now the onus is on us to sell it and prove that we can run large production workloads on our cloud."

Rackspace shares tumbled 19.62% during the week's trading to close at $59 on Friday.

Tech earnings season rumbles on next week, with quarterly numbers from Dell (DELL) and HP.

In the meantime, enjoy the Presidents' Day weekend!

--Written by James Rogers in New York.

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