Apple’s Stock Price Surges 4% as iPhone 17 Sales Exceed Expectations

In a significant development for tech giant Apple, the company’s stock price surged 4% on Monday, reaching an all-time high. This surge comes after a report showed that the iPhone 17 series has outsold the iPhone 16 series in the US and China by 14% within its first 10 days of availability. According to data from Counterpoint Research, the strong sales performance indicates a promising outlook for the forthcoming holiday quarter.

Strong iPhone 17 Sales

The iPhone 17 series, which was launched in September, has gotten off to a flying start in the US and China. According to Counterpoint Research, the base model iPhone 17 is particularly popular, offering great value for money with its improved chip, display, higher base storage, and selfie camera upgrade at the same price as last year’s iPhone 16. “The base model iPhone 17 is very compelling to consumers, offering great value for money,” Counterpoint senior analyst Mengmeng Zhang said in the report. “A better chip, improved display, higher base storage, selfie camera upgrade – all for the same price as last year’s iPhone 16. Buying this device is a no brainer, especially when you throw channel discounts and coupons into the mix.”

Analyst Upgrades

The strong sales performance of the iPhone 17 series has also led to upgrades from analysts. Loop Capital upgraded Apple from hold to buy, raising its price target to $315 per share from $226, citing better-than-expected demand for the latest iPhone model. “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.

Positive Analyst Sentiment

The positive sentiment surrounding Apple’s stock is not limited to Loop Capital. Evercore ISI added Apple to its Tactical Outperform List, expecting the company to beat market expectations for the current quarter and issue upbeat forecasts for the December quarter. “We think AAPL is well positioned to report upside to Sep-qtr expectations later this month,” Evercore analyst Amit Daryanani wrote in a note.

Apple’s Market Performance

Apple’s stock price surge comes after a relatively quiet period for the company. The stock is up about 5% in 2025, although it has lagged behind other Magnificent 7 winners like Nvidia, Meta, Microsoft, and Alphabet. However, it has surged 24% over the last three months. With a market capitalization of approximately $3.91 trillion, Apple remains one of the most valuable companies in the world.

Future Outlook

Looking ahead, Apple is set to report its quarterly earnings on October 30, with analysts expecting strong numbers. The company’s iPhone Air, which reportedly sold out in minutes after going on sale in China, may contribute to Apple’s strong performance in the upcoming quarter. Apple’s CEO Tim Cook recently visited employees and government officials in China, and appeared at a launch for Apple’s new iPhone Air, which may have helped boost sales.

Conclusion

In conclusion, Apple’s stock price surge is a testament to the company’s strong sales performance and positive analyst sentiment. With a promising outlook for the forthcoming holiday quarter and a strong lineup of products, Apple’s stock is likely to continue its upward trend. As analysts expect, Apple is well-positioned to report upside to Sep-qtr expectations later this month, and the company’s future looks bright.

Key Takeaways

• Apple’s stock price surged 4% on Monday, reaching an all-time high.
• The iPhone 17 series has outsold the iPhone 16 series in the US and China by 14% within its first 10 days of availability.
• Loop Capital upgraded Apple from hold to buy, raising its price target to $315 per share from $226.
• Evercore ISI added Apple to its Tactical Outperform List, expecting the company to beat market expectations for the current quarter and issue upbeat forecasts for the December quarter.
• Apple’s market capitalization is approximately $3.91 trillion, making it the second most valuable company in the world behind Nvidia.

With this strong performance and positive analyst sentiment, Apple’s stock is likely to continue its upward trend in the coming months. As the company prepares to report its quarterly earnings, investors will be watching closely for any signs of continued growth and success.