Apple's Q1 financial results have been well-received by investors, contributing to a 1% increase in the Nasdaq Composite and supporting broader market gains. Despite a drop in iPhone sales and a double-digit decline in China sales, Apple's overall revenue increased by 4% to $124.3 billion, driven by a strong performance in its services segment. The relief in the markets was also due to favorable inflation data, suggesting potential interest rate reductions in 2025. Nonetheless, energy stocks struggled, led by Chevron's profit decline as it faced profit and production challenges.
President Trump's tariff showdown is beginning, starting with Canada and Mexico, seemingly this weekend.
Despite some signs of weakness, Apple remains a favorite stock on Wall Street.
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