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Jim Cramer points to new, 'very bullish' signs that Apple's China business is on the mend

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CNBC's Jim Cramer reacts to Morgan Stanley data showing a mild acceleration of overall App Store growth to 11.7%.

CNBC's Jim Cramer sees Apple 's China business coming back — pointing to stronger monthly App Store numbers, due to activity in the world's second-largest economy. "This is very bullish," Cramer said Tuesday, reacting to Morgan Stanley data showing a mild acceleration of overall App Store growth in May to 11.7% year over year.

mountain AAPL stock performance year-to-date. Slower iPhone sales in China have been a thorn in Apple's side. But, sales there came in much better than feared during the company's latest quarter. Following earnings, the Investing Club raised its price target on Apple to $220 per share from $205. A potential catalyst for Apple stock could be next month's Worldwide Developers Conference.

 

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