Apple shares powered higher in early Friday trading, following a record set of first quarter earnings and an upbeat outlook for iPhone sales from the world's biggest tech company that triggered a host of price target changes from analyst on Wall Street.

Apple stock was up in premarket trading after the iPhone maker posted first-quarter earnings results that beat expectations.

Key Takeaways Apple shares rose Friday morning after the company reported better-than-expected earnings and said customers are increasingly upgrading their iPhones to take advantage of AI features.The stock looks set to continue its upward momentum after finding support near the lower trendline of a rising wedge pattern.

U.S. equity futures moved higher in early Friday trading, with the dollar on pace for its best week in seven, as markets found support from another solid set of tech earnings while waiting for a final word from the White House of the first round of tariffs from President Donald Trump.

Apple and other big U.S. companies reporting fatter profits than expected are helping Wall Street shave off its sharp losses from the start of the week on Friday. The S&P 500 was 0.7% higher in morning trading.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher following a rush of profit reports from some of the country’s most influential companies. The S&P 500 climbed 0.5%