Jim Cramer's top 10 things to watch in the stock market Friday

My top 10 things to watch Friday, May 1 1. Stocks are up, and oil prices are down, to kick off a new month of trading. Apple shares rose on a strong quarter, helping boost the S & P 500 , which closed above 7,200 for the first time. Brent crude futures tumbled on easing tensions in the Middle East and hopes for a reopening of the Strait of Hormuz. 2. Apple had a blowout quarter , and the guidance was much stronger than expected: June quarter revenue is expected to increase by 14% to 17% versus the year-ago period, Street looking for 9%. Services revenue rose 16% to a new all-time high of $30.97 billion — and I expect more to come from here. Margins will be pressured by higher memory prices, but they might be passed on. China sales were excellent, a big thawing there. Lots of sold-out Macs and iPhone 17s. Wells Fargo raised its price target to $310 from $300. Shares are up 3.5%. 3. Memory company Sandisk goes to a new business model focused on long-term contracts to add certainty, but costs are high for the hyperscalers. Already, people are questioning the rate of price increases for memory chips, which can't realistically grow to the sky. Shares fell 5% depsite reporting earnings on Thursday that beat expectations. Bank of America rasied it price target to $1,550 from $1,080. 4. Morgan Stanley raised its PT on Arm Holdings to $191 from $150, expecting the chip company's print on May 6 to be in line with estimates. …