AAPL gets the headlines ... but how is the rest of earnings season going?

Yes, AAPL gets the headlines. A big beat on EPS, surging sales, sales in China going gangbusters, share buybacks, stock price at nosebleed heights ... say what you like about Apple but these guys get a lot of things right.

But, what about the rest of the market? How is earning season going so far?

BoA/Merrill Lynch asked exactly the same thing, and note the first week of earnings season is positive:

• Last week 201 companies reported
• These are around 54% of S&P 500 earnings
• "Better earnings results across most sectors drove bottom-up EPS up $0.70 to $27.73
• 3% above analysts' expectations at the start of April
• A touch above our $27.50 forecast"