Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
Several Wall Street firms told their clients in recent months they were worried Apple could delay the release of the next iPhone.
But analysts are now saying the concerns were overstated after the smartphone maker gave a better-than-expected financial forecast for the September quarter during its earnings report Tuesday.
Apple shares opened up 6 percent Wednesday morning to a new all-time high. The stock closed up 5 percent at the market close.
"The outlook implies that fears of an iPhone X launch delay, and/or limited availability of the device, may have been overblown," Piper Jaffray analyst Michael Olson wrote Wednesday in a note to clients. "We recommend owning AAPL due to growing anticipation around iPhone X and a favorable trajectory for services revenue."
Olson reaffirmed his overweight rating and raised his price target for Apple to $190 from $158, representing 27 percent upside from Tuesday's close.
The tech giant reported strong fiscal third-quarter earnings Tuesday. Its sales guidance for the next quarter also came in above expectations at between $49 billion and $52 billion versus the $49.2 billion Thomson Reuters analyst consensus.
As a result, Morgan Stanley raised its September quarter iPhone unit estimate significantly to 43 million from 37 million.
"Despite investor concerns that OLED iPhone shipments could push to Nov/Dec or even next year, management guided September quarter bullishly and sounded confident on upcoming product launches this fall," Morgan Stanley analyst Katy Huberty wrote Wednesday. "We increase our September quarter iPhone unit shipment estimate … in part due to higher overall demand but also due to some of the new products likely contributing later in the quarter."
Huberty maintained her overweight rating and $182 price target on Apple shares.
JPMorgan predicts the stock's bounce on its strong guidance will be sustainable going forward.
"The midpoint of Apple's FQ4 revenue guidance at $50.5bn was a significant 7.5% ahead of our estimate," JPMorgan analyst Rod Hall wrote Wednesday. "The stock is rebounding to 'pre delay' levels on this though we believe the investment story runs through 2018 as pent up demand for a refreshed iPhone portfolio drives volumes for an extended period."
Hall reiterated his overweight rating and increased his price target to $176 from $165.
Apple has been one of the best-performing large-cap stocks in the market. Its shares rallied 29.6 percent year to date through Tuesday versus the S&P 500's 10.6 percent return.
— CNBC's Michael Bloom contributed to this story.