Nasdaq Composite Live: Apple (AAPL) Leads Tech Stocks Higher to End the Week

By Gerelyn Terzo Updated Jan 31, 1:37PM EST · Published Jan 31, 10:39AM EST

Key Points

Apple’s earnings were not as bad as expected, and the stock is lifting all of tech higher.
The Nasdaq is leading the markets higher with a 1.2% gain.
Wall Street analysts remain bullish on Apple stock.

Live Updates

S&P 500 Nears Record High Amid Tech Redemption

Jan 31, 2025 at 1:31 PM EST | Gerelyn Terzo

Stocks have reclaimed pre-DeepSeek levels as the S&P 500 looks to close out January higher. The S&P 500 is on pace for a 3%-plus gain in January and is hovering above the key 6,100 level, within a stone’s throw of a fresh all-time high after clinching its first record high of 2025 last week.

The S&P’s gains are being fueled by the technology sector as investors return to Big Tech names and DeepSeek fears subside. As a result, the Nasdaq is holding onto its 1.2% increase on the day but is still looking fractionally lower for the week at this juncture. On that note, the Dow Jones Industrial Average is meandering between positive and negative ground Friday afternoon.

Apple has pared its gains but continues to trade fractionally higher. Analysts at Wall Street firm UBS weren’t shocked softness in the iPhone but were expecting more excitement around the iPhone SE model. They are bracing for flat unit growth and softness in the core portfolio.

Meta Platforms (Nasdaq: META | META Price Prediction) stock is on a winning streak and is on pace for its 10th straight trading session in the green. At last check, Meta is up 1.4% on the day.

Palantir Technologies (Nasdaq: PLTR) joined in on the tech rally, with the stock hitting a new intraday high with a 3.9% gain. Palantir’s quarterly earnings are expected next week.

Nasdaq Winners and Losers

Jan 31, 2025 at 10:49 AM EST | Gerelyn Terzo

The Nasdaq 100 is moving past the DeepSeek sell off on Monday, up 3.75% over the past 5 days.

Here are today’s top gainers and losers:

Stock	Ticker	Today’s Performance
Atlassian	TEAM	+17.66%
ARM Holdings	ARM	+5.40
Vertex	VRTX	+4.93
Baker Hughes	BKR	+4.89
Broadcom	AVGO	+3.89
Diamondback Energy	FANG	-2.67
PDD Holdings	PDD	-2.21
Fastenal	FAST	-2.09
Constellation Energy	CEG	-1.96

The big market story today is Apple (Nasdaq: AAPL), which is lifting all boats and driving the Nasdaq Composite over 1% higher to end the week on a positive note. Apple’s Q1 results appeased investors and the markets are seeing the AI glass half full. Apple stock is up 2% out of the gate to hover at $242 per share after trading as high as $247 per share post-earnings.

Tech is leading the broader markets higher, and the Dow Jones Industrial Average is slightly up and S&P 500 also posting gains. The markets also breathed a sigh of relief in response to muted inflation data that lends itself to interest rate cuts in 2025. Energy stocks remain under pressure after Chevron (NYSE: CVX) reported a profit decline and lower oil production. CVX stock is down 4% on the day, dragging the sector lower.

Apple Highlights and Trump Tariffs

Despite some signs of weakness, not least weaker iPhone sales, Apple remains a favorite stock on Wall Street. Investors appear to be focused on the long-term prospects for AI, which go beyond the tech’s potential in the chatbot arena. Apple’s China sales sank by a double-digit percentage, while overall revenue climbed 4% higher to $124.3 billion. Apple’s services business was a bright spot, resulting in record margins for the growing business.

President Trump’s tariff showdown is beginning, starting with Canada and Mexico, seemingly this weekend. Meanwhile, lawmakers are urging President Trump to impose guardrails surrounding the export of Nvidia’s (Nasdaq: NVDA) AI chips so that China’s DeepSeek can’t get its hands on them. Nvidia boss Jensen Huang meets with President Trump at the White House. Led by ByteDance, China imported billions of dollars worth of Nvidia’s chips last year.

Markets Overview

Dow Jones Industrial Average: up 45.35 (+0.10%)
S&P 500: up 38.19 (+0.63%)
Nasdaq Composite: up 249.13 (+1.24%)

Here’s Wall Street’s response to Apple’s Q1 results:

DA Davidson raised its price target on AAPL stock to $290 from $260.
Deepwater Asset Management’s Gene Muster, a tech bull, isn’t worried about slowing iPhone sales, telling CNBC, “You start looking out over the next several quarters, you should start to see accelerating revenue growth.”
Citi analysts attached a 90-day positive catalyst watch to Apple stock, lifting the price target to $275 per share and touting the company’s Apple Intelligence release.
New Street Research analyst Antoine Chkaiban remains cautious, telling Yahoo Finance, “We’re not convinced that on-device AI will enable game-changing user experiences because the hardware is not game-changing.”

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.