Apple's stock price hit record high as iPhone 17 sales reignite investor optimism
Investors are rallying behind Apple as excitement builds over the iPhone 17’s sales number.
• Apple’s share price reached an intraday high of $264.38 and settled at $262.24, setting new records.
• Early sales of the iPhone 17 outpaced the prior model by 14% in the first 10 days in the U.S. and China.
• Analyst sentiment improved significantly: for example, Loop Capital upgraded Apple’s stock from “hold” to “buy” and set a target of $315.
Not too long ago, Apple was on the defensive. Sales in China were softening, the competition was fiercer than ever, and analysts were beginning to whisper the one thing every tech giant dreads, that maybe, just maybe, the iPhone’s magic was fading.
Its market share had slipped as rivals like Huawei and Xiaomi mastered the art of offering premium specs at friendlier prices. With Apple seeing a modest 1.3% decline to 9.6 million units from the previous year quarter. The smartphone market overall was slowing, and Apple’s margins were being squeezed from both ends.
Fast forward to mid-October, and that story has flipped entirely. Apple’s stock hit an all-time high this week, $264.38 intraday, $262.24 at close, fuelled by a new hero: the iPhone 17 Series. The new series has done what its predecessor couldn’t, reignite global excitement around Apple’s most important product.
MORE INSIGHTS ON THIS TOPIC:
- China's smartphone market didn't impress in the second quarter of 2025
- CHART: Apple posts record revenue in Q3 FY24 despite iPhone sales decline
- iPhone 16 Was The World’s Best-Selling Smartphone In Q1 2025
