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Wells Fargo Reaffirms Overweight on Apple as China iPhone Sales Surge [Yahoo! Finance]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Shares sold for roughly $273.40, which gave the business a market value of nearly $4.04 trillion.According to the China Academy of Information & Communications Technology, shipments of non-Chinese branded phones, which are a good way to measure how well the iPhone is doing, jumped 128% from the same month last year to 6.93 million units in November. The company's market share climbed from 10.6% to 22.4% in the same time period last year, even though total exports in China only grew by 2%.Shipments of Chinese-branded phones fell by 13%, showing that Apple is still strong in the high-end market even if the Chinese market is slowing down.Apple is still under worldwide regulatory investigation. The Italian antitrust commission penalized the business 98.6 million ($115.5 million) for how it runs the App Store. Japan's new Mobile Software Competition Act will also make Apple let other companies sell and distribute apps on its platform.Jefferies kept its Hold rating and lifted its goal to $2
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