In aggregate, tech shares Friday slipped a bit, but not nearly enough to put a damper on the quarter as a whole. The tech-heavy Nasdaq ended Friday at 3,091.57, down 3.79 points for the day but at its best level since the fourth quarter of 2000.

Nasdaq computer stocks are up 24 percent since the beginning of the year. Nasdaq telecom stocks are up about 11 percent for the year. Stocks in the tech, media and telecom market segment were up about 10 percent on the New York Stock Exchange, the best-performing sector on that exchange outside of financials, which were up about 17 percent.

Compared to the Dow Jones Industrials Index, up by about 8 percent, computer shares are doing very well.

General optimism about the economy is part of the upbeat mood. On Thursday, for example, the U.S. Department of Labor said that last week the number of people seeking jobless benefits for the first time had dropped to a four-year low.

Good news on the sales and profit front is adding an extra dose of confidence to IT. On the down side, not all IT vendors have performed equally well, and some analysts have suggested that Apple's phenomenal growth may be skewing overall statistics.