Tech Five: Apple, Yahoo shares surging

Brett Molina

USA TODAY

Several tech companies are trading higher Wednesday off quarterly results. Let's take a look at the five tech stocks to watch Wednesday:

During the first quarter of fiscal 2013, Apple sold 51 million iPhones and 26 million iPads, raking in an incredible $57.6 billion in revenue.

Apple. Consumers cannot stop buying the tech giant's signature iPhone. Apple raked in third quarter revenue of $74.6 billion after selling a whopping 74.5 million iPhones during the holiday season. Shares are up more than 7% in afternoon trading. Apple also sits on $178 billion in cash.

Yahoo. CEO Marissa Mayer gave investors what they wanted: plans for the company's massive Alibaba stake. Yahoo says it will spin off its remaining $40 billion Alibaba stake into a separate entity. Shares of Yahoo are up 1.8%.

Electronic Arts. Shares of the video game published jumped 12% after topping estimates on revenue and profits for the third quarter. The company also raised guidance for the fiscal year, boosting forecasts for non-GAAP revenue to $4.253 billion with an earnings per share of $2.35.

Facebook. The social network reports fourth quarter and full year earnings after the markets close Wednesday. Facebook is forecast to report earnings per share of 48 cents off $3.77 billion in revenue, according to analyst estimates.

Qualcomm. The chip maker will report first quarter earnings after the bell Wednesday. The earnings announcement follows reports that Samsung is ditching Qualcomm's processor in the next Galaxy S smartphone for an internal replacement.

Follow Brett Molina on Twitter: @brettmolina23.

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