Apple share price comeback

Apple Inc. shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.

The company had warned analysts in February that revenue in the latest period would be down about 5% from a year earlier.The company predicted that both its iPad and services business would grow by a rate in the double digits, but declined to give a forecast for the iPhone — its flagship product. A lack of innovative new devices has contributed to slow sales at Apple, but the company looks to begin rectifying that on May 7. That’s when it plans to unveil new iPads — the first updates to its tablet line in 1 1/2 years.

Apple’s slowdown in China has been of particular concern to investors in recent months. Consumers there are flocking to homegrown smartphone brands, and the government has banned the use of foreign technology in some offices. Cook also pushed back on the idea that the iPhone was suffering in the country, saying that revenue from the device actually grew in mainland China. The weakness stemmed from other parts of the business, he said.

But that product is off to a slow start and could take years before it adds meaningfully to Apple’s revenue. The Pro models also will add a new button for capturing photo and video, but they’ll otherwise look the same as current versions.

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