Apple, Verizon Results: Weekly Tech Recap

News about Apple, AT&T and IBM moved the market this week. Here's a roundup of TheStreet's top tech stories.
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NEW YORK (TheStreet) -- On Friday, Apple (AAPL) - Get Report ended another news-dominating week two ways: By announcing that the launch of its white iPhone 4 will be further delayed due to manufacturing glitches, and by taking the first requests for iPhone 4 cases, which allegedly remedy reception problems.

Antennagate had no impact on

Apple's third-quarter earnings

, which, fueled by strong iPhone and Mac sales, came out well above analysts estimates: Apple posted $3.51 EPS, up from $2.01 in the year-ago period and up from the $3.11 analysts expected. Revenue hit $15.7 billion.

While Apple's results were more than enough to send its shares upward for most of the week before closing Friday up 92 cents to $259.94, Apple still has about $300 million to go before it catches up with rival

Microsoft

(MSFT) - Get Report

, revenue-wise.

>>Apple Hits Through the Years

But with the

Bill Gates

persona long gone from the software giant's aura,

Apple's beloved brand

-- which

TheStreet

studied a bit this week -- stands atop tech in a league all its own, fueled by the quirks and moves of its CEO, Steve Jobs.

> > Bull or Bear? Vote in Our Poll

In other earnings news,

IBM (IBM) - Get Report kicked the week off by missing revenue estimates

for the second quarter, blaming a currency headwind caused by the strengthening dollar. After a steep drop-off early Tuesday, IBM shares took the slow and steady ride up for the rest of the week, closing up 91 cents to $128.38 Friday.

Squeezing lots of juice out of Windows 7 sales,

Microsoft posted substantial quarterly results

on Thursday, announcing revenue of $16.04 billion, a 22% increase from the same year-ago period. The company's shares closed down 0.12% to $25.81 on Friday.

Hefty increases in wireless customer subscribers last quarter boosted both

AT&T

(T) - Get Report

and

Verizon

(VZ) - Get Report

shares late in the week.

Verizon

, whose stock shot up more than 4% Friday immediately following its earnings report, is seeing lots of upside for its growing list of flashy Android smartphones.

AT&T activated a record 3.2 million iPhones

over the past quarter, which helped bump its second-quarter profit by almost 26%. The company also boosted its outlook and expects strong EPS growth for the rest of 2010.

Verizon closed up 3.78% to $28.02 Friday, while AT&T closed up 0.12% to $25.54.

Tech's week ahead

Last week,

TheStreet's

tech team took a look at

5 IPOs that the tech sector needs

now. Tune in Tuesday when we examine another crop of companies buzzing about the IPO radar.

Motorola's

(MOT)

Droid smartphones helped Verizon beat the Street's estimates for last quarter; we'll report on whether they do the same for the ancient radio maker when it reports first thing in the morning Thursday.

We'll also be watching British chipmaker

ARM Holdings

(ARMH)

, the

Intel

(INTC) - Get Report

rival whose technology dominates much of the smartphone sector.

The company, which reports earnings on Tuesday, has quietly forged partnerships with dozens of big tech names including

Texas Instruments

(TXN) - Get Report

,

Samsung

and, most recently, Microsoft. The software maker announced Friday that it had signed an agreement to license ARM's technology, which presumably will be used for some type of mobile device development.

-- Written by James Rogers in New York

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