Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York. The company is set to become the first trillion-dollar company.
“We were especially pleased with the double-digit increase in Services driven by strong growth from the App Store in China,” Chief Executive Tim Cook told a conference call after the results. At least 11 of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising it by $45 to $250. The median of current recommendations is $217.
In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, driving a more a rise in services sales by the company in the world’s second largest economy.
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