Wall Street's main indexes rose on Friday as a jump in shares of Apple on upbeat results provided enough of a boost to outweigh a dour warning from Amazon.com.
Big Tech earnings are viewed as a major test of the strength of corporate America in the face of decades-high inflation, with only Apple's report being perceived as the only positive outlier.
"Apple has not cracked like the other tech firms and shows how it can be done," said Ben Barringer, equity research analyst at Quilter Cheviot. "While we should expect a slowdown in the next earnings report, the company continues to hold up well, unlike its big tech rivals."
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