The S&P 500 ( ^GSPC) gained 0.5%, while the Dow Jones Industrial Average ( ^DJI) rose nearly 0.4%. The tech-heavy Nasdaq Composite ( ^IXIC) was up nearly 0.3%.

Oppenheimer cut shares of Apple (NASDAQ:AAPL – Free Report) from an outperform rating to a market perform rating in a report published on Wednesday, Marketbeat Ratings reports. Several other equities research analysts have also weighed in on the company.

Stock market today ended on a strong note as Nasdaq, S&P 500, and Dow Jones closed higher, led by Apple’s strong earnings and tech sector gains. Apple’s stock surged, boosting investor confidence, while inflation data signaled stability.

Nasdaq-100 rises as Apple earnings boost tech stocks. Investors await key PCE inflation data for market direction. Will US indices extend gains today?

Palantir Technologies (NASDAQ: PLTR) was one of the hottest artificial intelligence stocks on the market last year. Ives recently raised his 12-month target price to $90 per share, citing confidence in the company's artificial intelligence strategy. Ives thinks Palantir could be the next Oracle, a software company worth $515 billion.

The S&P 500 has gained about 3% while China's CSI 300, which has been closed toward the end of the month due to new year's celebrations, has lagged other indexes. U.S. stock market futures higher traded higher on Friday,