How chips, PCs, services companies are faring

Monday: IBM beat analysts' net income forecasts for the third quarter and raised its revenues outlook for the full year thanks to the success of its software and services businesses. Nevertheless, IBM slightly missed on the revenue forecast, reviving questions about the company's ability to bring in enough new business to fuel its expected growth. It comes as some analysts fear that corporations and government agencies may spend less on IBM products and services if the economy remains weak.

Tuesday: Apple Inc. had no new iPhone or iPad release while the quarter. As a result, laptops were Apple's strongest category. Sales were up 30 percent from the previous quarter thanks to the release of a new operating system, Lion. Total Mac sales set an all-time record at 4.9 million.

Intel Corp.'s results offered some comfort for investors jittery about the weak state of the global computer market. Net income rose 17 percent and revenue rose 29 percent, topping Wall Street targets. Intel CEO Paul Otellini credited stronger sales of processors for laptop PCs and servers.

EMC Corp., the world's largest maker of data storage computers, says strong worldwide demand for its cloud computing and data storage products and services contributed to a 28 percent growth in net income.

Wednesday: Western Digital Corp. says revenues rose 21 percent and revenue rose 12 percent as the maker of hard drives topped Wall Street's forecasts in spite of a sluggish personal-computer market. The company has warned about a disruption in supply because it had to temporarily close factories in Thailand because of heavy flooding.

Thursday: Microsoft Corp.'s Windows franchise regained some of its vigor while the company's latest quarter, the first time Microsoft has posted a year-over-year gain in Windows revenue since the end of 2010. Revenue in the Windows division grew near 2 percent to $4.87 billion. The modest gain was slightly below the 3.2 percent to 3.6 percent rise in personal computer shipments while the quarter, based on estimates by Gartner Inc. and IDC.

Hard drive maker Seagate Innovation PLC says its first-quarter net income fell, as revenue gains were eaten up by higher interest and other expenses. Seagate has warned of delays because of flooding in Thailand. Even though factories there are operational, the company is having difficulty getting some elements. It says supply will be constrained the rest of the year, although the magnitude of the disruption is currently unclear.