Apple Nears $4 Trillion Valuation as iPhone 17 Demand Surges
Apple’s shares reached record highs on Monday as enthusiasm for the iPhone 17 drove the company close to a $4 trillion valuation. Recent data from Counterpoint Research indicated that the iPhone 17 series exceeded early sales of the iPhone 16 by 14% in the United States and China during the first ten days after launch.
The company’s stock climbed 4.2% to $262.9, raising its market capitalization to around $3.9 trillion. This surge positioned Apple as the second most valuable company globally, trailing only the AI chip leader Nvidia.
Strong iPhone Sales Boost Market Confidence
Over the weekend, analysts at Evercore ISI placed Apple on their Tactical Outperform List, expecting the company to exceed market estimates for the current quarter. They also anticipate optimistic guidance for the December period. According to their note, “The recent launch of online orders in China may be a positive tailwind for the Dec-qtr, as initial delivery time data reflects stronger initial demand relative to other regions at launch.”
In September, Apple introduced a redesigned lineup that included the slimmer iPhone Air while keeping prices steady despite ongoing U.S. tariff concerns. Art Hogan, chief market strategist at B Riley Wealth, said, “They rolled out the latest version of their iPhone and it’s doing much better than anticipated … the demand trends for the company’s iPhones are now on the front foot.”
Overcoming Challenges and Looking Ahead
Earlier in the year, the company faced headwinds due to fierce competition in China and uncertainty surrounding potential tariff increases on products from Asian manufacturing hubs. Nevertheless, Apple’s commitment to invest an additional $100 billion in the United States helped restore investor confidence and may mitigate tariff risks.
If the current trend holds, the stock is on track for its largest one-day rise in four weeks. Moreover, shares are now up over 5% for the year, underscoring a renewed wave of optimism about the company’s long-term growth trajectory.
