Microsoft (MSFT) reported record earnings for the quarter but recent stock price increases appear to have anticipated a stronger report as the stock has fallen about 1.38 per share in after hours trading as of 4:34 pm EST.

Still, very favorable earnings reports are now in from Tech giants like Google, Yahoo, Apple, and Microsoft. Could all the talk of severe recession problems be overblown when applied to the tech sector?

Over at Yahoo Tech Aaron Task reports:

A funny thing is happening amid all the recession talk: Most big tech companies are reporting spectacular earnings and revenue growth, especially those with significant overseas business.

Disclosure: Long on YHOO