Apple’s shares hit an all-time high on Monday, bringing the iPhone maker closer to becoming the world’s third company to reach a $4 trillion market value. The stock surge is attributed to strong demand for the newly released iPhone 17 series.
According to data from Counterpoint, the iPhone 17 series outperformed its predecessor, the iPhone 16 lineup, in initial sales across China and the United States. During the first 10 days after launch in both countries, the new models sold 14% more units than the iPhone 16 series.
Following this positive data, Apple’s shares rose 4.2% to $262.9, pushing its market capitalization to approximately $3.9 trillion — making it the second most valuable company in the world, behind Nvidia.
Over the weekend, analysts at Evercore ISI added Apple to their “Tactical Outperform List,” expecting the company to exceed market expectations for the current quarter and issue optimistic guidance for the December quarter.
The analysts also noted that the recent launch of online orders in China could have a positive impact on the December quarter, as early delivery timelines indicate stronger demand compared to other regions.
R. Riley Wealth’s chief market strategist, Art Hogan, stated: “They launched the latest version of the iPhone, and it’s performing significantly better than expected... Demand trends for Apple’s iPhones are now in focus.”
Earlier this year, Apple’s shares struggled due to fierce competition in China and uncertainty surrounding high U.S. tariffs imposed on Asian economies like China and India, where many of its production hubs are located.
However, after Apple announced a $100 billion investment in the U.S. in early August, its shares began to recover steadily — a move seen as a way to mitigate the potential impact of future tariffs.
If the upward trend continues, the stock is set to record its largest single-day jump in the past four weeks, bringing its year-to-date gain to over 5%.
