Apple shares climbed nearly 4% on Monday to a record close of $262.24, driven by strong early demand for the new iPhone 17 lineup. According to Counterpoint Research, iPhone 17 sales in the U.S. and China have outpaced the iPhone 16 series by 14% in the first ten days since launch. Analysts credit the surge to improved performance, upgraded cameras, and higher storage options at the same price point.
The bullish momentum was reinforced by Loop Capital, which upgraded Apple to “buy” and raised its price target to $315 per share, citing sustained demand growth through 2027. Meanwhile, Apple’s new iPhone Air also sold out within minutes in China, adding to optimism ahead of next week’s earnings. Despite a slow start to 2025, Apple shares have rebounded sharply—up 24% over the past three months.