Key Takeaways Apple shares rose Friday morning after the company reported better-than-expected earnings and said customers are increasingly upgrading their iPhones to take advantage of AI features.The stock looks set to continue its upward momentum after finding support near the lower trendline of a rising wedge pattern.

Tim Cook insists Apple Intelligence is convincing people to upgrade — even if the features are underwhelming so far.

Apple shares rose 3.5% in premarket trading, after the company reported stronger-than-feared earnings. iPhone sales fell nearly 1% on the year to $69.1 billion, below the $70.7 billion analysts were projecting,