On Tuesday Apple Inc published its quarterly results, which significantly exceeded target values, Reuters reports. The most valuable IT-company in the world is also planning to raise revenue forecasts for this fall, when it is going to release new model of iPhone.

Californian company responded to slowdown at global market of smartphones by issuing more expensive models and diversifying into service sector. Apple also increased sales in China by 19% after they significantly dropped in 2016 as Chinese buyers ignored new iPhone 7, which did not differ a lot from its predecessors.

Company’s shares buyback reached this year $43 billion and exceeded market value of about three fourths of companies included into index S&P 500.

Shares grew by 3,7% to record level of $193,34. As a result, market capitalization of Apple reached $954 billion.

Apple sold 41,3 billion of iPhones in third fiscal quarter. It is less than was expected by half million. However, average selling price was higher than expected by $30.