How Apple’s Record Earnings Lifted Tech Amid Meta and Nvidia’s Slide — Market Wrap May 1

Today's AI insights from 7horns.ai highlight a cautious market open with Apple leading gains, climbing 3.19% pre-market following record March-quarter earnings. Apple's revenue surged 17% year-over-year to $111.2 billion, driven by a 22% jump in iPhone sales and an all-time high $31 billion in services revenue. Despite this, the broader tech sector showed mixed signals: Google soared nearly 10%, while Meta dropped 8.55% after raising capital expenditure guidance, and Nvidia slid 4.63%. Asian markets were mixed overnight, with Japan’s Nikkei up 0.6% and Hang Seng down 1.28%, while gold futures retreated 1.12% after recent gains. The S&P 500 sits just off its new record high of 7,209 as the market digests earnings and awaits direction amid thin trading volumes due to global May Day holidays. Investors will watch if Apple’s momentum can offset headwinds from other mega-cap tech names. AI insights powered by 7horns.ai — the world's first true AI research financial assistant. Our CNN machine learning model delivers daily stock market analysis with over 60% accuracy, beating the S&P 500 by 300% from 2021–2025. No human emotions, just pure AI-driven financial research. Visit 7horns.ai for your free daily AI insights.