Morningstar

Tech Up After Apple Earnings — Tech Roundup

Provided by Dow Jones May 1, 2026, 9:35:00 PM

Shares of technology companies rose after strong Apple earnings.

Rounding out a busy week for the Magnificent Seven, the Cupertino, Calif., company posted a 21% increase in iPhone sales to $57 billion in the fiscal second quarter as the newly launched iPhone 17 proved popular. In his 89th earnings call, Chief Executive Tim Cook said he was confident that John Ternus would continue the company's growth record when he takes over in September, despite Apple's recent struggles to keep up with competitors on AI.

The Defense Department has completed agreements with eight technology companies, including many of the industry's biggest, to use their AI capabilities in classified settings, boosting the Pentagon's efforts to gain access to cutting-edge AI tools.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 01, 2026 17:35 ET (21:35 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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