Apple Stock Hits New Record, Spurring Dow Higher, As China Sales Boom

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Apple Stock Hits New Record, Spurring Dow Higher, As China Sales Boom
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After going on a tear and rising almost 90% last year, Apple stock again got a boost today, hitting another new record high—thanks to recent data showing that China sales were much better than expected for December by skleb1234

that the U.S.-China trade war took a toll on business there, causing Apple’s China revenue and regional iPhone demand to drop somewhat. This latest data, however, shows that Apple is making headway, especially as sales rebounded and markedly improved from a year earlier.The recent boom in iPhone sales are yet another positive for the tech giant, wrote Wedbush analyst Daniel Ives in a note on Thursday.

—and underestimated demand for iPhone 11 sales in Asia. He puts the stock’s price target at $350 per share.

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