Wall Street certainly liked Apple’s first fiscal quarter earnings.
Apple stock was up about 6.13% on Wednesday, finishing the regular trading session at $128.79, the day after the company reported a huge beat.
That means that Apple’s market capitalisation rose by about $35 billion on Wednesday — just about Ebay’s entire value, to put it in perspective.
Apple said on Tuesday that iPhone sales grew for the first time in a year, and also reported revenue of $74.8 billion, a record for the company. In response, several Wall Street analysts, including those at Pacific Crest, RBC Capital Markets, and Oppenheimer & Company, raised price targets for the company.
Apple is currently at a 52-week high.
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