Apple Stock Hits Record High as iPhone 17 Sales Defy Expectations
October 20, 2025
Apple stock soared to an unprecedented high on Monday, shattering records as new data revealed the iPhone 17 lineup is off to a dramatically stronger start than its predecessor, signaling a powerful resurgence for the tech giant .
The company’s shares climbed over 4%, closing at $263.22 and pushing its market capitalization above the $3.9 trillion mark . This rally was fueled by a report from Counterpoint Research showing the iPhone 17 series outsold the iPhone 16 series by 14% in its first 10 days of availability in the United States and China, Apple’s two most critical markets .
The Sales Data Behind the Surge
The double-digit sales increase provides the first concrete evidence of robust consumer demand for the new generation. The overall uplift stems from two distinct, parallel successes: the remarkable performance of the standard iPhone 17 in China and the dominance of the high-end iPhone 17 Pro Max in the U.S. .
The following table breaks down the key regional drivers powering this early success:
Investors have responded with renewed vigor. Loop Capital upgraded its rating on Apple stock from “Hold” to “Buy,” significantly raising its price target to $315 per share . In a note to clients, analyst Ananda Baruah stated, “We believe there remains material upside to Street expectations through CY2027,” suggesting that this may be the beginning of a long-awaited upgrade cycle .
More Than a Spec Bump: Why the iPhone 17 is Resonating
The enthusiasm for the base iPhone 17 model, particularly in China, highlights a strategic win for Apple. Counterpoint analysts highlight that the device offers a new chip, an improved display, increased base storage, and an upgraded front camera, all while maintaining the same $799 launch price as the previous model .
“The base model iPhone 17 is very compelling to consumers, offering great value for money,” said Mengmeng Zhang, a senior analyst at Counterpoint. “Buying this device is a no brainer, especially when you throw channel discounts and coupons into the mix” .
In the U.S., the story is centered on the top of the lineup. Major carriers like Verizon, AT&T, and T-Mobile have increased their maximum subsidies by roughly $100, making the premium iPhone 17 Pro Max more accessible and locking customers into longer service contracts . This strategy reinforces Apple’s grip on the lucrative premium segment of the market.
A Turning Point for Apple Stock
For much of 2025, Apple had been a notable laggard among the “Magnificent Seven” tech stocks. As recently as April, the Apple stock price was down approximately 31% for the year . However, the momentum has shifted powerfully since then, with shares rocketing more than 50% from their low and finally turning positive for the year in late September .
This recent surge, culminating in Monday’s record close, indicates that the market is betting on a sustained turnaround. The strong early sales of the iPhone 17 suggest Apple has successfully convinced a large wave of customers holding onto older models that now is the time to upgrade.
Ben Reitzes, an analyst at Melius Research, believes Apple is “getting back on track” and is “shutting down its critics,” pointing to bullish signals from China and the overall momentum of the new models .
Looking Ahead
While the early data is undoubtedly positive, the question of sustainability remains. Apple continues to face fierce competition from Huawei in China and Samsung in the global market . Some analysts also caution that with a price-to-earnings ratio now over 32 times—higher than its historical average and that of most Nasdaq 100 peers—Apple stock is pricing in a lot of success .
Nevertheless, the powerful start for the iPhone 17 in Apple’s most important regions provides a solid foundation for the upcoming holiday quarter. As the company prepares to report earnings, all eyes will be on whether this initial burst of demand is the start of a multi-year super-cycle that will finally close the performance gap with its tech peers. For now, the sleeping giant appears wide awake .