Shares hit record high after early sales jump 14% in China and the U.S.
Apple Inc. shares climbed to an all-time high on Monday, pushing the company’s market capitalization close to $4 trillion, fueled by robust early demand for the iPhone 17 lineup.
According to research firm Counterpoint, early sales of the iPhone 17 series have surpassed those of its predecessor by 14% in both China and the United States — Apple’s two largest smartphone markets.
Record-Breaking Market Rally
Apple’s stock has risen 4.2% to close at $262.9 per share, valuing the company at approximately $3.9 trillion and making it the world’s second-largest company after Nvidia, which dominates the artificial intelligence chip sector.
The rally followed an upgrade from Evercore ISI, which placed Apple on its “Tactical Outperform” list, predicting the company will beat the market expectations for the current quarter and deliver strong December results.
iPhone 17 Series Boosts Investors’ Confidence
Apple unveiled its latest iPhone lineup in September, including the ultra-thin iPhone Air, while maintaining existing price points despite concerns over potential U.S. import tariffs.
Although the company faced challenges earlier in the year — particularly in the Chinese market — its pledge to invest an additional $100 billion in the United States helped restore the investors’ confidence.
Analysts expect Apple’s stock to post its largest single-day gain in four weeks, extending its year-to-date rise beyond 5%.
Earnings Ahead
Apple is scheduled to report quarterly earnings on October 30, an event eagerly anticipated by global markets given the company’s strong performance momentum and optimistic sales indicators.
