Apple is set to hit a new all-time record high Friday, taking its market value past $1.4 trillion, as data shows surging iPhone sales in China along with easing trade tensions.
Apple Inc shares extended gains into fresh all-time highs Friday after analysts at Credit Suisse boosted their price target for the iPhone maker, citing sharply improving sales in China.
Apple’s December iPhone shipments in China rose 18.7% from the same period last year, Credit Suisse noted from data published by the country’s Ministry of Industry Information Technology (MIIT), well ahead of the overall 13.7% decline in overall domestic smartphone sales…
Apple shares were marked 0.21% higher in early trading Friday to change hands at $310.40 each, after hitting a record high $311.40 at the opening bell, a move that would take its one-year gain to a staggering 102.5% and value the Cupertino, California-based tech giant at just under $1.4 trillion.
MacDailyNews Note: Apple’s Q120 earnings are set to be released on Tuesday, January 28th after market close. As usual, we’ll have those results for you as soon as they are available, right around 4:30pm ET / 1:30pm PT on January 28th.