Shares of Apple Inc. surged to a record high on Monday, driven by strong early demand for its newly released iPhone 17 across key markets in China and the US.
According to a report from Counterpoint Research, iPhone 17 sales in the first ten days of availability outpaced iPhone 16 sales by 14 percent—a promising sign for the tech giant’s latest product cycle.
In China, consumers have shown a sharp preference for the base model, nearly doubling unit sales compared to the iPhone 16. In the U.S., meanwhile, the iPhone 17 Pro Max is leading the pack, especially among users upgrading from pandemic-era purchases.
“The iPhone Air has also proven more popular than the iPhone 16 Plus,” Counterpoint noted, adding that availability in China for that variant is expected by end-October.
The apple-to-apple phone sales comparison was enough to jolt investor enthusiasm, fueling optimism that the iPhone 17 could be a breakout cycle. Analysts say the strong initial demand may help Apple regain momentum in China, where it has faced increasing competition from domestic brands like Huawei and Xiaomi.
The stock responded in kind, climbing 3.9 percent to close at USD262.24, making Apple one of the top performers on the Dow Jones Industrial Average for the day. The rally also brought Apple closer to a historic milestone—becoming only the third company ever to reach a USD4 trillion market valuation, behind Microsoft and Saudi Aramco.
With consumer sentiment turning and upgrade cycles in full swing, Apple’s blockbuster quarter may be just getting started.
