Compaq, AMD and Apple all said that they expect sales for this first calendar quarter to modestly beat expectations.
Compaq was particularly buoyant about its prospects for the second half of the year and appears not to have been distracted by its proposed merger with Hewlett Packard.
Analysts expect these forecasts to drive the US stock market up today (17 January) to reverse the downward trend caused by Intel's less than optimistic forecast on Tuesday, which hurt global stock exchanges the following day.
The biggest surprise in reporting for the quarter ended 29 December, came from Compaq which easily beat analysts' estimates and reported a profit when a loss was expected.
The company declared a net profit of $92m, or five cents per share, on revenue of $8.5bn. Last year the company posted a net loss of $672m on revenue of $11.5bn.
Apple announced a profit of $38m, or 11 cents a share, on revenue of $1.38bn for its fiscal first quarter ended 29 December. For the same quarter last year Apple posted a loss of $195m, or 58 cents per share, on sales of approximately $1bn.
For its fourth quarter, AMD reported a loss of $15.8m, or five cents per share, on sales of $951.9m. In last year's fourth quarter, AMD had sales of $1.2bn and net profit of $178m, or 53 cents per share.
All three companies beat analysts' profit and loss estimates for the December quarter and only Apple fell a shade shy on sales' estimates.
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