Stock market mixed as Apple reports strong earnings despite future concerns

Jan 30, 2026

SARASOTA, Fla. (WWSB) – The stock market showed mixed results Friday afternoon as major indices posted modest weekly losses despite strong earnings from several companies.

The Dow Jones Industrial Average fell 402 points to 48,669, down about half a percent for the week. The S&P 500 dropped 34 points to 6,934, declining roughly one-third of a percent weekly. The NASDAQ closed down 147 points at 23,537 but remained flat for the week after strong early gains.

Apple reported quarterly revenue of $143 billion, beating expectations of $138 billion and representing 16% growth from the previous year. The company posted net income of $42 billion, or $2.84 per share, compared to $36.33 billion or $2.40 per share in the same quarter last year.

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China sales surged 38% to $25.57 billion after recent weakness in the region. iPhone sales increased 25% and accounted for $85 billion of total revenue. Mac sales reached $8.34 billion while iPad sales totaled $8.6 billion for the quarter.

Apple’s services division grew 14% to about $30 billion of the total revenue. Wearables sales declined 2%, suggesting consumers may not be updating Apple Watches as frequently.

Despite the strong results, Apple shares fell 3.5% Friday and are down 8% year-to-date. The company warned that materials, supplies and wages could increase due to potential tariffs.

Meta reported strong earnings earlier in the week while Microsoft saw significant declines after its results. Chevron posted solid earnings Friday morning.

ABC7 business commentator Jeff Stern said the market wants better performance despite generally positive results. Apple has 2.5 billion phones in use globally, according to Stern.