Apple Inc. (AAPL) - Get Report shares opened over 4 percent higher after the world's most valuable tech company posted stronger-than-expected quarterly earnings and hinted that cooling U.S.-China trade tensions would support international sales growth over the near term.
After cautioning investors earlier this month that sales over the three months ending in December, the company's fiscal first quarter, would slow to around $84 billion thanks in part to tepid China growth, Apple posted modestly stronger earnings and revenue for the period, including a robust margin for its fast-growing services division, and said current-quarter sales would likely match the Street consensus of around $59 billion.
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