Highlights
- Apple stock hits record high at $263 per share, driven by strong early demand for the iPhone 17 lineup.
- iPhone 17 sees robust sales globally with the base model up 31% year-on-year and the Pro Max leading in U.S. demand due to increased carrier subsidies.
- iPhone Air sells out instantly in China, despite a delayed launch, while many users are upgrading for the first time since the pandemic.\
Apple’s stock has surged to a record high, climbing to around $263 per share amid rising investor optimism fueled by strong iPhone 17 sales. Here’s the full story.
iPhone 17 Sales Power AAPL’s Market Momentum
Apple is set to announce its next quarterly earnings next week, which will offer the first official look at iPhone 17 sales performance. However, early third-party reports already suggest that the latest iPhone lineup is generating impressive demand across major markets.
This growing confidence has led Apple’s share price to surge with AAPL currently hovering near $263, marking a new all-time high. The Apple stock is expected to continue fluctuating as trading continues. The bullish sentiment was further strengthened as Loop Capital upgraded its rating for Apple stock from “Hold” to “Buy.”
CNBC report explains, “While [Wall] Street is baking in some degree of outperformance from AAPL’s iPhone 17 family of products, we believe there remains material upside to Street expectations through CY2027,” Loop Capital’s Ananda Baruah said in a note to clients on Monday.”
Apple’s previous record close was in December last year, when shares ended the day at $258.10.
The broader stock market is also performing well today. According to CNBC, this is reportedly driven by optimism that the U.S. government shutdown could be resolved soon.
While AI-driven momentum continues to dominate Wall Street, concerns around Apple’s efforts to enhance Siri with AI do not seem to be discouraging investors. The strong demand for the iPhone 17 lineup appears to be the main growth catalyst at the moment.
Strong Demand for Both Entry-Level and Premium iPhone 17 Models
Meanwhile, a new market intelligence report revealed that both the cheapest and most expensive iPhone 17 models are seeing strong sales. The base iPhone 17 is reportedly performing exceptionally well with sales during the first 10 days of release nearly one-third higher than the iPhone 16 achieved in the same period last year.
Counterpoint Research reports that the iPhone 17 is experiencing particularly high demand in China, while the iPhone 17 Pro Max is the most sought-after model in the U.S.
The report reads, “The iPhone 17 series have outsold the iPhone 16 series by 14% during the first 10 days of availability in China and the US, Apple’s two key markets that make up the bulk of iPhone sales globally […] Of the four iPhone variants, this year’s base model iPhone 17 is performing well, especially in China, where consumers are reacting warmly to its strong value offering […] In the US, the iPhone 17 Pro Max has seen the strongest ramp in demand as the big three carriers boost maximum subsidies by 10% ($100), reflecting a strategic shift towards ultra-premium customer segments in the US market.”
Demand for the base model has risen 31% year-on-year, while sales of the Pro Max have increased by 12%.
Meanwhile, sales data for the new iPhone Air remain limited since its China launch was delayed, but local reports indicate that it sold out within minutes in several cities once it became available.
The 9to5Mac report noted, “According to a report from the South China Morning Post, the iPhone Air “sold out within minutes of its launch in China” earlier today. The report explains that “minutes after” pre-orders began on Friday morning, the iPhone Air was sold out “at all bricks-and-mortar stores in Beijing and Shanghai, as well as in cities like Tianjin.” Online shipping estimates for the iPhone Air in China have also shipped to November in many configurations.”
The report adds that many existing iPhone users are now upgrading their devices for the first time since the pandemic, further boosting Apple’s momentum in the smartphone market.
FAQs
Q1. What is driving Apple’s stock to a record high?
Answer. Apple’s stock surged to around $263 per share due to strong early demand for the iPhone 17 lineup, investor optimism ahead of the upcoming earnings report, and an upgrade from Loop Capital from “Hold” to “Buy.”
Q2. Which iPhone 17 models are performing best in key markets?
Answer. The base iPhone 17 is seeing strong demand in China, with sales up 31% year-on-year, while the iPhone 17 Pro Max is leading in the U.S., boosted by increased carrier subsidies targeting premium buyers.
Q3. How did the iPhone Air perform during its China launch?
Answer. Despite a delayed release, the iPhone Air sold out within minutes in major Chinese cities like Beijing, Shanghai, and Tianjin, with online shipping estimates already pushed to November.