Apple just announced its earnings on wednesday evening and they defy the global economic slowdown. Revenue of $7.9 billion and EPS of $1.08. Sales results for iPods and iPhones give a clear picture of consumer's minds as those popular products are an excellent indcator of consumer spending on and demand for tech products. iPod revenue declined 20% and iPhones have sold 3.3 million units versus 4.4 million last quarter. Of course Apple sold less units than expected during the first quarter of 2009, and felt about 1% from last year, but the gross sales actually increased!