Apple (NASDAQ: AAPL) shares jumped to an all-time intraday high on Monday as early data showed the iPhone 17 launch outpacing last year’s cycle and fresh optimism from Wall Street ahead of earnings.
Shares hit an intraday record of $264.38, propelling Apple’s market capitalization toward $4 trillion, signaling renewed momentum in its most important product line. The iPhone accounts for roughly 50% of the company’s revenue.
Counterpoint Research data reported by Reuters indicated iPhone 17 sales ran roughly 14% ahead of the iPhone 16’s first 10 days in the U.S. and China, with the base model posting particularly strong gains in China. The mix shift — helped by a faster chip, brighter display, and higher base storage at the same starting price — has been a key driver of the early demand surprise.
Shares of Apple are up 8% year to date and more than 36% in the past month, recovering from a tariff-driven snap-back earlier in the year that raised concerns over cost headwinds and supply-chain disruption.
Analyst Upgrades Also Lift Apple Stock (NASDAQ: AAPL)
The stock move was amplified by a wave of analyst calls. Loop Capital upgraded Apple to “Buy” and lifted its price target to $315, arguing the new iPhone cycle and ecosystem tailwinds could carry through the next several quarters.
Evercore ISI added Apple to its “tactical outperform list,” citing above-average lead times and potential upside to September-quarter results and December-quarter guidance. Additional positive takes from Melius and others rounded out the upgrade tape.
Today’s rally marks Apple’s first record print of 2025 and underscores investor confidence that the iPhone franchise still has room to run after a slower patch in smartphone demand.
Apple Reports Q4 Earnings This Month
The next catalyst arrives October 30, when Apple reports fiscal Q4 results. Investors will look for signs that early iPhone 17 strength is translating into revenue, margins, and services attach, with particular attention on China trends and model mix.
Evercore said Apple is “well positioned to report upside” to current estimates, while Reuters noted today’s move is among the stock’s biggest one-day gains in weeks.
For now, the combination of stronger early iPhone 17 data and fresh analyst conviction has Apple back in price-discovery mode at record territory — setting up an earnings report that could determine whether this cycle extends into the holiday quarter with the same force investors are betting on today.
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