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China rebounds but Apple investors are waiting for the iPhone X effect

Apple shares leapt as the company reported far better quarterly results than Wall Street had expected, including an upbeat view of the performance of current iPhone models, amid the anticipation of the iPhone X. The vendor reported $52.58bn in fourth quarter revenue, up 12% year-on-year and ahead of the consensus forecast of $50.7bn. Profits were up 19% to $10.7bn. Apple said it sold 46.7m iPhones during the quarter, outdoing analyst expectations of 46m, which had been tempered by fears that the iPhone 8 and iPhone 8 Plus would be slow sellers. These models were launched at the same time as the iPhone X, but were made available earlier, leading to speculation that most people – especially at the high value…

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