Wall Street analysts were smitten by a rebound in sales of Apple’s iPhones after a year of decline. So much, in fact, that they looked past a weaker-than-expected rise in services revenue, the company’s growth driver. At least 15 brokerages raised their price targets on the company’s shares, with DA Davidson setting the most bullish price target of $385, well above the stock’s current median price target of $325. Shares of the company rose to over $323 in the latest session. Robust iPhone sales helped the company make up for weakness in its services revenue in the company’s fiscal first quarter of 2020 reported earlier in the week.

Source: Irish Examiner January 29, 2020 15:56 UTC