Not all news can be good news and Wall Street is no exception. Yesterday we had the good earnings news from Google that helped its stock surge 5.5% today.

Tonight, after the market close we have Apple (News - Alert) with the not so rosy release for its last quarter. A record 48 million iPhones were sold and overall profit was $13.1 billion, below expectations and certainly disappointing for many, but not much of a surprise to me.

Apple shares are down nearly 10% in after-hours trading and tomorrow promises to be a rough day for this company with possible spill-over to other tech and communications concerns, such as Intel (News - Alert) and AT&T.