The worst behind Apple in China, says Wedbush

Apple delivered a much better than feared quarter with headline results that beat the Street and a generally in line iPhone quarter, Wedbush analyst Daniel Ives tells investors in a research note. The firm, which made no change to its Outperform rating and $250 price target, notes that June guidance calls for low single digit growth vs. the Street’s numbers looking for a decline, as it appears iPhone demand is now starting to slowly turn the corner in China along with a robust Services performance. Apple remains one of the firm’s top tech picks for the year and Wedbush says this quarter reinforces the thesis that the worst is now behind Apple in China.