Apple woos investors with China gain, market value nears $1 trillion

FILE PHOTO: The logo of Apple company is seen outside an Apple store in Bordeaux, France, March 22, 2019. REUTERS/Regis Duvignau

If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world’s most valuable company, Microsoft Corp . Apple had 4.53 billion shares outstanding at the end of last quarter. “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 seven of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising its price target by $45 to $250. The median of current recommendations is $217.

They need to start paying higher American taxes as they are now a Chinese company.

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