By all means, Intel was on top of its game in the second quarter of 2012. The Santa Clara chip maker reported quarterly revenue of $13.5 billion, operating income of $3.8 billion, and net income of $2.8 billion. Talk all you want about the PC sales slump, Intel still performed well, with its PC Client Group pulling in $8.7 billion in revenue, up 3 percent sequentially, along with its Data Center Group adding another $2.8 billion (up 14 percent sequentially). If the numbers are so strong, why is Wall Street on edge?

Research In Motion (RIM) on Thursday evening posted a $518 million net loss for its first fiscal quarter of 2012, representing a 33 percent drop in revenue over the previous quarter and 43 percent decline from one year ago. It was not the financial picture RIM wanted to paint, but certainly the one many were expecting, at least to an extent. Nevertheless, RIM's stock is taking a beating, trading for around 15 percent less than prior to the announcement.

Talk about kicking a fella when he's down but not yet out. Nokia has fallen on tough times, forcing the company to make some tough decisions, and while the Finnish handset maker tries to get back on its feet, Moody's Investors Service downgraded the company's debt rating from Baa3 to Ba1, otherwise known as junk status. Furthermore, Moody's said the outlook on this and other ratings (including Nokia's corporate family ratings and probability of default rating) all remain negative.

Listen, anyone who claims we're living in, or are on the verge of, the post PC era clearly isn't paying attention. All one needs to do is focus on Lenovo, a company that, quite frankly, is kicking ass and taking names, and not by selling tablets and smartphones, but by hawking PCs around the globe. To wit, Lenovo's worldwide PC shipments increased 44 percent year-over-year, compared to an admittedly anemic 4.6 percent year-over-year average industry growth rate (emphasis on 'growth'), and for the tenth consecutive quarter was the fastest growing among the top four PC vendors.