By Julia Love and Devika Krishna Kumar SAN FRANCISCO (Reuters) – Apple Inc painted a rosy picture for its new iPhones as it reported quarterly results on Tuesday, but investors were more focused on the company's next test: topping last year's record holiday sales. Shares of the world's most profitable company initially rose 3 percent in extended trade after Apple beat Wall Street's sales and profit forecasts, but the gains largely evaporated later. In the world's most important market for smartphones, Apple's sales in Greater China in its fourth fiscal quarter nearly doubled from a year ago to $12.52 billion, accounting for nearly a quarter of its total revenue.
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Apple investors focus on iPhone sales for the holiday quarter