May 5 Reuters Apple39;s stock surged nearly almost 5 on Friday, hitting a ninemonth high and on track for its biggest oneday gain since November after the iPhone maker39;s quarterly results cheered investors worried about a potential recession.

The rally in Apple39;s shares buoyed optimism across Wall Street, helping lift the SP 500 and Nasdaq over 1.5 after CEO Tim Cook39;s results late on Thursday underscored the resilience of corporate earnings in a quarterly reporting season that so far has been less bad than expected.

Apple soothed the market because of its consistency of execution. Tim Cook has a steady hand on the helm, said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.

Investors in uncertain times want certainty, and Apple, as well as Microsoft, are as close as you can get to certainty, Dollarhide added.

The world39;s most valuable company reported lower revenue and profits for the quarter ending April 1, but still beat analysts39; expectations. With Apple39;s results helped by emerging markets like India, executives said gross profit margins for the current quarter would be better than forecast.

Apple39;s stock market value climbed by over 100 billion to about 2.7 trillion, extending its lead over Microsoft, the world39;s second most valuable company, at 2.3 trillion.

Last trading at 173.48, the Cupertino, California company39;s shares were set to log their biggest oneday gain since Nov. 30. They were just short of…