Apple Inc. gave a reassuring revenue forecast for the current quarter, helping boost shares of the world’s most valuable company after its holiday results showed jarring declines for China and the iPhone.

Apple's revenue grew by 4 percent in the first quarter of the fiscal year but did not meet Wall Street's expectations for iPhone sales. Investors were concerned about the 11.1 percent decline in sales in China.

Wall Street's main indexes rose on Friday, driven by gains in Apple following its strong sales forecast and a reading of the U.S. central bank's favored inflation gauge which aligned with expectations that the Fed would keep borrowing costs steady.