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.

Apple reported fiscal first-quarter earnings Thursday. Analysts are focused on iPhone momentum following a sluggish start to the year for Apple's stock.

Apple stock was rising in premarket trading Friday, boosted by the solid set of results the tech company posted after Thursday's close. Apple reported earnings of $2.40 a share on revenue of $124.3 billion for the quarter ended Dec.