Apple Stock Surges on Strong iPhone Sales in Q4

Apple Inc. (NASDAQ: AAPL) shares jumped 5.2% in after-hours trading following the company's impressive fourth-quarter earnings report. The tech giant exceeded Wall Street expectations with iPhone sales reaching $46.2 billion, up 12% year-over-year.

CEO Tim Cook attributed the strong performance to robust demand for the iPhone 15 lineup and continued growth in the services segment. The company's services revenue hit a record $22.3 billion, showcasing the strength of Apple's ecosystem.

Analysts from Morgan Stanley raised their price target to $210, citing confidence in the upcoming product cycle and the company's expanding AI capabilities. The Services segment continues to demonstrate impressive margins, contributing significantly to overall profitability.

Looking ahead, Apple provided optimistic guidance for the holiday quarter, expecting double-digit growth driven by new product launches and strong demand in international markets, particularly in India and Southeast Asia.