Brokers increase Apple shares target

Wall Street analysts were smitten by a rebound in sales of Apple’s iPhones after a year of decline. So much, in fact, that they looked past a weaker-than-expected rise in services revenue, the company’s growth driver.

At least 15 brokerages raised their price targets on the company’s shares, with DA Davidson setting the most bullish price target of $385, well above the stock’s current median price target of $325. Shares of the company rose to over $323 in the latest session.