(Bloomberg Business) — Apple reported another quarter of monster earnings after the market close yesterday, with quarterly profit up by 33 percent on the back of strong iPhone sales in the United States and China.
Apple also said that iPhone sales in greater China outpaced those in the United States for the first time, putting the firm on pace for its highest annual profit since 2012 — a record — and the company forecast sales in the current period that may exceed analysts' estimates.
As analysts across Wall Street are sending out new research this morning, some are changing their price targets. The iPhone was a common theme in their notes, with Citi reiterating their buy on a "solid beat on iPhones" and Deutsche Bank maintaining their outperform in a note titled "How about Them Apples; Delivers Robust iPhone Results and $200 Billion Capital Return Program."
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