Apple hits record high on strong iPhone 17 sales in US and China

Apple's stock surged to an all-time high on Monday, closing at $262.24 following a report indicating robust initial sales for its latest iPhone 17 series in the United States and China. The tech giant's shares climbed 3.94% after market research revealed the new model is outperforming the launch of the previous iPhone 16 by a significant margin.

Strong Early Sales Performance

Data from Counterpoint Research showed that in its first ten days of availability, the iPhone 17 series sales were 14% higher than the iPhone 16's debut in both the US and China. This strong consumer reception in two of Apple's most critical markets has bolstered investor confidence, driving the stock's record-breaking performance.

Compelling Value Drives Consumer Demand

Analysts attribute the successful launch to the device's enhanced value. "The base model iPhone 17 is very compelling to consumers, offering great value for money," said Mengmeng Zhang, a senior analyst at Counterpoint Research. She highlighted that improvements to the chip, display, base storage, and selfie camera, all offered at the same price as the previous model, made the purchase "a no brainer," especially with additional channel discounts.

A Resurgent Stock Performance

The record close marks a notable upswing for Apple in 2025. While the company's stock has gained roughly 5% for the year, it has lagged behind other major tech stocks like Microsoft and Nvidia. However, its performance over the last three months has been far stronger, with a 24% surge reflecting growing optimism about its product cycle and market position.