Apple rises after ‘solid’ Q3, as Wedbush says iPhone China-beat ‘star of the show’

Wedbush said solid results from Apple (NASDAQ:AAPL), with an impressive iPhone beat in China, was the star of the show, following the U.S. tech giant’s quarterly results post-market on Thursday.

The firm maintained its Outperform rating on Apple with a $270 price target on the stock. Shares of Apple rose about 2% premarket on Friday.

“Apple announced its FY3Q25 ((June)) results which came in much better than expected featuring strong top and bottom-lines led by iPhone and Service particularly in China which return to positive growth (up 4% y/y) which is a key theme for Apple as this core region has been a persistent growth headwind over the past year,” said analysts led by Daniel Ives.

The analysts noted that Apple reported total revenues of $94.04B which came in well ahead of the Street’s estimate of $89.35B estimate with double-digit growth across iPhone, Mac and Services led by the all-important iPhone revenues of $44.58B which was well above the Street’s expectation of $40.29B as the company saw significant improvements in the key China region heading intothe iPhone 17 product cycle over the next year.

“This was a major step in the right direction for Cook and Cupertino with China the star of the show,” said the analysts.

Ives and his team said that China, importantly, delivered $15.37B in revenue, (up 4% year-over-year) as the key region was considerably better than both Wedbush and the Street’s expectations by returning to positive growth as government stimulus helped stimulate demand during the quarter.