The AlwaysOn X Fund portfolio advanced 5.3% for the week, while the NASDAQ was up 4.1%, and the S&P 500 was up 3.1%. For the year, the AO X Fund portfolio is up 5.7%, the NASDAQ is flat and the S&P 500 is down 1.1%.

All our companies reporting last week posted positive results supported by strong growth. New Oriental Education beat expectations by 2 cents, posting 114% EPS growth and 45.8% sales growth. Apple beat expectations by 40 cents, posting 160% EPS growth and 61.3% sales growth. VmWare beat expectations by 2 cents, with Q2 EPS up 70% and sales up 48%. Management guides up for Q3. Baidu.com beat expectations by 4 cents, with EPS down 78%, while sales were up 74.4%. Management raised its Q3 guidance. F5 Networks posted 5 cents better-than-expected EPS results, up 65% YoY, and sales up 45.7%. FFIV raised its Q3 outlook.

Intuitive Surgical posted 35% EPS growth and 34.5% sales growth, beating expectations by 15 cents. Netflix beat EPS estimates by 9 cents, but missed slightly its revenue guidance, posting 48% EPS growth and 27% sales growth. Chipotle beat expectations by 7 cents, posting 32.7% EPS growth and 20.1% sales growth. Fortinet beat estimates by 2 cents, with 24.4% sales growth in Q2. Riverbed Technologies posted 78.6% EPS growth and 38.8% sales growth, beating estimates by 3 cents and raised its Q3 guidance. SanDisk beat expectations by 18 cents, with EPS growth of 20%, and sales growth of 61.5%. www.nextupresearch.com.

Michale Moe is an AlwaysOn contributing editor and a former co-founder of ThinkEquity.