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.
Qualcomm, meanwhile, rose more than 12 percent as Broadcom considers acquiring the chipmaker.
The S&P 500 also finished at a record, climbing 0.3 percent to 2,587.84 with the technology sector as the leading advancer. Qualcomm was the best performer on the index.
The Dow Jones industrial average rose 22.93 points, notching a record close at 23,539.19, with Apple leading advancers.
The Dow and the S&P 500 also posted their eighth straight weekly gain; the Nasdaq notched its sixth consecutive weekly gain.