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Apple and Microsoft Lead Gains as Tech Stocks Stage Comeback

  • The IPhone maker has biggest one-day jump since July 2020
  • Recent weakness has come on Fed policy and rate concerns
Updated on

Tech stocks staged a comeback on Friday with Apple Inc. and Microsoft Corp. among the biggest gainers this week after reporting strong quarterly results and outlooks.

Apple shares surged 7% on Friday, their biggest one-day gain since July 2020 after its results beat expectations and demonstrated the company’s ability to navigate a difficult supply environment. Microsoft gave a strong forecast earlier in the week, buoying investor sentiment on its cloud growth prospects.