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,

Apple stock was rising in premarket trading Friday, boosted by the solid set of results the tech company posted after Thursday's close. Apple reported earnings of $2.40 a share on revenue of $124.3 billion for the quarter ended Dec.

Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.