Apple Shares Climb 7% in Q1

Apple shares climbed 7 percent on Wednesday, breaking the market value of $ 1 trillion repeatedly.

Despite the decline, the company's Q1 2019 earnings came after the release of business results, which exceeded estimates.

The US company said its iPhone sales fell about 17 percent in the three months ending last March.

However, the stock profited from Apple's CEO Tim Cook optimistic comments on US-China talks, as well as the buyback of Apple shares worth $ 75 billion.

Cook said that the progress made by the Trump administration with the Chinese side, during the trade talks, supported Apple's manufacturing performance in Beijing.

Citigroup analysts maintained Apple's target price at $ 220 per share. While financial services company Wells Fargo raised the target price of the share from $ 190 to $ 215.

Meanwhile, the company's market value reached $ 1.01 trillion after experiencing exceptional drops earlier this year.

However, Apple rose 6.8 percent to record $ 214.30 a share.

The iPhone maker was the first company in history to exceed the market value of $ 1 trillion last August.