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Wall Street's biggest Apple bull: China sales are 'fuel in the engine'

Carmin Chappell

Dan Ives of Wedbush Securities initiated coverage of Apple with an outperform rating and a 12-month price target of $310, higher than any other analyst on Wall Street. Services are the "linchpin" to Apple's growth, Ives says. Strong Chinese demand and a growing services business are critical on Apple AAPL 's "yellow brick road" to a $1.5 trillion market cap, which Wedbush Securities analyst Dan Ives said is more than possible.