Apple, however, is burdened with heavy expectations. Even though revenue for the quarter was $35 billion, up from $28.6 billion a year earlier, it fell short of the $37.2 billion consensus forecast from analysts polled by Thomson Reuters. Net profit for the quarter was $8.8 billion, up from $7.3 billion last year. Though sales of iPhones were strong, they may have been curbed by users who postponed purchases until the debut of the new iPhone, expected later this year. After dipping in the wake of the earnings report, Apple shares rose by $10.28 Friday to $585.16.

Evidence that the PC and components market remains soft came from Texas Instruments, which reported Monday that second-quarter revenue was $3.3 billion, down from $3.5 billion a year earlier, and profit was $4.46 million, down from $672 million.

Company officials blamed economic turbulence.

"Although we believe customers and distributors have low inventory levels, the global economic environment is causing both to become increasingly cautious in placing new orders," said TI CEO Rich Templeton in a statement.

Facebook's earnings report Thursday created the most turbulence among tech-oriented stocks. In its , the social networking giant reported 32 percent year-over-year growth in revenue, to $1.18 billion, and a net loss, due mainly to share-based compensation in the wake of its initial public offering. Adjusted for one-time expenses, earnings per share were in line with analysts' expectations at $0.12. Revenue was slightly above expectations.