Apple Soars to Record High as iPhone 17 Sees Strong Early U.S.-China Sales

Apple Inc. (AAPL) stock surged 4.6% on Monday, hitting a record intraday high and leading the Dow Jones Industrial Average gainers. The rally was fueled by bullish analyst reports and optimistic third-party sales data for the new iPhone 17 series, signaling renewed investor confidence.

According to Counterpoint Research, iPhone 17 sales in the crucial U.S. and Chinese markets jumped 14% year-over-year in the first 10 days following its launch.

Base Model Strength: Analyst Mengmeng Zhang highlighted the standout performance of the base iPhone 17 model, whose sales surged 31%. “The base model provides extremely good value for money, and Chinese consumers are rewarding Apple for that,” Zhang noted.

Carrier Boost in U.S.: Counterpoint’s Maurice Klaehne added that U.S. carrier subsidies have increased by approximately 10%, boosting demand for the high-end iPhone 17 Pro Max by making the “ultra-premium device more accessible.”

The Big Picture: The strong early sales offer a positive signal that Apple may be navigating recent challenges, including heightened competition in China and criticism over a lack of innovation.

What’s Next: Analysts are upbeat about Apple’s future product roadmap.

Melius Research’s Ben Reitzes pointed to the instant sell-out of the iPhone Air in major Chinese cities and anticipates a foldable phone in 2026—priced around $2,000—will further energize the market.

Looking ahead, Reitzes expects new products, including a potential all-glass, curved iPhone for its 20th anniversary in 2027 and an Apple Intelligence update in early 2026, to bolster Apple’s pricing power and AI standing.

By 2027, AI advances could pave the way for new hardware like a touchscreen MacBook and home robots. Citing Apple’s integrated ecosystem and privacy focus, Reitzes believes the company has a competitive edge in robotics, a market that could rapidly add “tens of billions of dollars in additional revenue.”

Yes, but: Not all analysts are convinced. Jefferies’ Edison Lee warned that the iPhone Air’s popularity may be cannibalizing Pro model sales, and noted that shortening wait times for new iPhones suggest demand may be cooling weeks after the launch.

Bottom line: The potent combination of a strong iPhone 17 start and an ambitious future product pipeline is reigniting Wall Street’s optimism, suggesting Apple might be turning a corner.