Apple Inc. (AAPL) hit an all-time high on Tuesday, bringing its market capitalization close to $3.9 trillion. The rally follows strong early sales of the iPhone 17 series, which have significantly outpaced expectations in major markets, including the U.S. and China.
Data from Counterpoint Research shows the iPhone 17 outsold its predecessor by 14% during the first ten days of launch. In China, sales of the base model nearly doubled compared with the iPhone 16’s launch period, highlighting robust consumer demand for the new lineup. Analysts attribute the surge to innovative features, strategic marketing, and growth in the global smartphone market.
The stock rally has also propelled Apple past Microsoft, reclaiming its position as the world’s second-most-valuable company, behind only Nvidia. Investors have reacted positively, viewing the iPhone 17’s success as a sign of Apple’s enduring brand strength and market leadership.
Evercore ISI recently added Apple to its Tactical Outperform List, citing continued strong demand and optimistic earnings forecasts. Apple is scheduled to announce its quarterly results on October 30, a report expected to further influence the stock’s trajectory.
The iPhone 17 series, featuring upgraded camera systems, longer battery life, and advanced software tools, has resonated with consumers seeking premium smartphones. Analysts predict that continued demand for the iPhone 17, coupled with Apple’s broader product ecosystem, could sustain the company’s upward momentum in the coming quarters.
On Wednesday, Apple shares traded at $262.77, hitting intraday highs of $265.16 and lows of $260.77. The company’s price-to-earnings ratio stands at 30.28, with earnings per share (EPS) of 6.59, reflecting sustained investor confidence.
With strong sales and resilient stock performance, Apple reinforces its position as a global technology leader, demonstrating its ability to innovate, capture market share, and maintain investor trust in a competitive market.
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