(CNBC) U.S. equities closed at record highs on Friday on the back of a sharp rally in Apple shares. Qualcomm also jumped as Broadcom considers acquiring the chipmaker.
The Nasdaq composite rose 0.7 percent to 6,764.44, an all-time high. Apple shares rose more than 2 percent after the tech giant reported quarterly earnings that blew expectations out of the water. The company also issued strong guidance for the current quarter. Apple’s market cap came within $6 billion of reaching $900 billion.
“The Company continues to drive excellent services growth, which creates a more stable profit pool than hardware, and appears well positioned to increase gross margins through FY18,” KeyBanc Capital Markets analyst Andy Hargreaves said in a note.
