Apple and other big U.S. companies reporting fatter profits than expected are helping Wall Street shave off its sharp losses from the start of the week on Friday. The S&P 500 was 0.7% higher in morning trading.

Apple’s own brand of artificial-intelligence might be rolling out slowly but analysts are hailing early evidence that it is set to boost iPhone sales. “Apple Intelligence is clearly benefiting iPhone growth in regions/countries where it is available.

Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.