NEW YORK ( TheStreet) -- The 3.6 earthquake that hit Washington D.C. Friday morning wasn't enough to shake the impact of Apple's ( AAPL) own product spill, which culminated later in the day with an iPhone 4 press conference.Steve Jobs and Co. admitted that "we're human," yet left a lot of questions unanswered as they discussed a "fix" to the iPhone 4 antenna problems. Unhappy iPhone users will receive free cases or a full refund, but investors won't get an apology. "To investors, you know, you invest in the company we are, so if the stock goes down $5 ... I don't think I owe them an apology," Jobs said during the conference.
We still don't know when Intel ( INTC) will find its way inside smartphones, but the company followed through with its eight-year run of reporting above-consensus second quarter results. In fact, Intel saw its best quarter ever, reporting revenue of $10.8 billion, up from $8 billion during the same period last year and above analysts' estimates of $10.25 billion. Intel's beat bolstered most of tech for the week, although chief chip rival AMD ( AMD), which posted a narrower loss over last year, saw shares fall Friday 0.5% to close at $7.37. Notes from Wall Street analysts Friday took a cautionary tone toward the company, which is dealing with production delays of its new Fusion graphics processor. Intel stock closed down about 50 cents on Friday at $21.02.
Less dazzling than Intel's earnings performance was Google's ( GOOG). Faced with lower ad volume due to weak business in Europe, Google posted earnings of $6.45 a share, up from the $5.36 a share level a year ago but below the $6.52 profit analysts were looking for. The company continues to dominate the ad search business and its Android-powered smartphones have given Google new advertising revenue streams, but investors are waiting for the search giant's next big thing.