Shares of technology companies rose slightly after mixed earnings.
Shares of Apple fell amid concerns about the implications of a trade war for its sales growth in China, which slowed in the fiscal second quarter.
The company reassured investors that most of the iPhones set to be shipped to the U.S. in the coming months will be from India and Vietnam, leaving it less vulnerable to the U.S.-China standoff. Still, tariffs will generate about $900 million in additional costs, the company warned.
Apple shares had risen for eight straight session coming into Friday's trading. But shares remain down roughly 18% for the year to date.
Amazon.com shares were more or less flat after the online megastore warned of the implications of tariffs for its customers.
As the U.S. started applying duties on small-value packages from China, closing a long-standing loophole, bargain site Temu said it had stopped shipping products to U.S. consumers directly from the country, marking a dramatic shift in its business model.
MicroStrategy rose as increases in the value of the software maker's extensive bitcoin holdings offset a hefty quarterly loss.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-02-25 1702ET
