Apple Earnings Beat as Service Revenue Soars


Apple Inc. (NASDAQ: AAPL) was maintained at Market Perform by Wells Fargo but raised its target to $245 from $215

Wells Fargo analyst Aaron Rakers said China is stabilizing while wearables and Services are driving revenue growth.

“We see Apple’s iPhone stabilization in China as a key driver of Services revenue as the firm looks to maximize ARPU through the continued rollout of new subscription services,” Rakers wrote.