A next generation iPhone 17 is held during an Apple special event at Apple headquarters on Sept. 9, 2025 in Cupertino, California.
Justin Sullivan | Getty Images
Apple shares rose 4% on Monday as a new report showed iPhone 17 sales off to a strong start in the U.S. and China.
The iPhone 17 series, which dropped in September, has outsold the iPhone 16 series by 14% in the U.S. and China within its first 10 days of availability, according to data from Counterpoint research.
“The base model iPhone 17 is very compelling to consumers, offering great value for money,” Counterpoint senior analyst Mengmeng Zhang said in the report. “A better chip, improved display, higher base storage, selfie camera upgrade – all for the same price as last year’s iPhone 16. Buying this device is a no brainer, especially when you throw channel discounts and coupons into the mix.”
The company is positioned to rally with demand for the latest iPhone generation exceeding expectations, according to Loop Capital.
The investment bank upgraded Apple from hold to buy, raising its price target to $315 per share from $226.
“While [Wall] Street is baking in some degree of outperformance from AAPL’s iPhone 17 family of products, we believe there remains material upside to Street expectations through CY2027,” Loop Capital’s Ananda Baruah said in a note to clients on Monday.
Last week, Apple CEO Tim Cook visited employees and government officials in China, and appeared at a launch for Apple’s new iPhone Air, which reportedly sold out in minutes after going on sale, according to the South China Morning Post.
In a note on Sunday, Evercore analyst Amit Daryanani said that the iPhone Air’s apparent popularity in China may boost Apple shares. They have the equivalent of a buy rating on the stock.
The Evercore analysts wrote in the note that Apple is poised to report strong numbers during next week’s earnings report.
“We think AAPL is well positioned to report upside to Sep-qtr expectations later this month,” Daryanani wrote.
Apple 5-day stock chart.
