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Apple shares hit an all-time high on Monday, driven by strong early sales of the iPhone 17 series in major markets. The latest figures positioned the iPhone maker on the brink of becoming the third company in history to reach a $4 trillion market capitalization.
According to Counterpoint Research, iPhone 17 models outperformed the iPhone 16 series by 14 percent in early sales across China and the United States during the first 10 days of launch. This momentum helped Apple shares rise by 4.2 percent to $262.9, giving the tech giant a market value of around $3.9 trillion, trailing only AI-chip leader Nvidia.
Brokerage firm Evercore ISI added Apple stock to its Tactical Outperform List, projecting that the company would exceed expectations for the ongoing quarter and deliver optimistic forecasts for the December period. Analysts at Evercore ISI noted that Apple’s introduction of online orders in China could further boost December-quarter demand, as initial delivery data showed stronger sales compared to other regions.
Apple shares gained additional support from the successful launch of new products in September, including the slimmer iPhone Air. Despite concerns over potential U.S. tariffs, Apple kept prices steady. Market strategist Art Hogan from B. Riley Wealth said the company’s latest iPhone lineup “is performing better than anticipated,” with demand trends improving significantly.
Earlier this year, Apple shares faced pressure due to fierce competition in China and uncertainty over tariffs affecting production in Asian hubs like China and India. However, the stock began to recover in August after the company announced a $100 billion investment in the U.S. to strengthen its supply chain and mitigate tariff risks.
If current gains persist, Apple shares will record their largest one-day increase in a month and rise over 5 percent for the year, underscoring renewed investor confidence in the company’s growth outlook.
