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AAPL Stock News: Apple Pay is moving closer to a launch in China, a development that will accelerate the company's already ballooning profits in that country.
Apple stock was up nearly 1% in early trading today (Monday) to $115.
With iPhone sales growth slowing in markets like the United States and Europe, Apple has ramped up its efforts in China over the past year.
China has become a key source of revenue for Apple over the past couple of years. In the most recent quarter, revenue from China grew 112%, with iPhone unit sales rising 87%. Mac sales grew 33%, and App Store revenue doubled.