Big news from Apple

Morgan Stanley (NYSE:MS), McDonald’s (NYSE:MCD), Boeing NYSE:BA), United Technologies (NYSE:UTX), Apple (Nasdaq:AAPL) – all beat earnings expectations in the latest round of quarterly reports. Yes, earnings estimates appear to have been too low. But at the same time, the economy is surprisingly strong. I’m not sure there’s much reason to think analysts should have seen these numbers coming. Apple was the star of the bunch. It reported $3.33 a share in earnings, when analysts were looking for a measly $2.45. That’s a humongous beat by Apple. And the stock is moving 6% higher this morning. Apple is setting the bar awfully high going forward. *****So far, 89% of companies have beaten earnings expectations, according to Bloomberg. If that pace continues, it would …