Apple shares close at record high after report of strong iPhone 17 sales in China, US

By Mucahithan Avcioglu

ISTANBUL (AA) - US tech giant Apple's stock closed at a record high of $262.24 Monday after a report showed that sales of the new iPhone 17 in the US and China have outpaced the previous models' debuts.

According to data from Counterpoint Research, the iPhone 17 series, which was released in September, outsold the iPhone 16 series by 14% in the United States and China in the first 10 days of availability.

Apple's shares climbed 3.94% Monday after the report.

“The base model iPhone 17 is very compelling to consumers, offering great value for money,” said Mengmeng Zhang, senior analyst at Counterpoint Research.

“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. Simply put, it provides extremely good value-for-money, and Chinese consumers are rewarding Apple for that," she added.

So far this year, the price of Apple stock has fluctuated. The stock is up roughly 5% in 2025, trailing by a considerable margin behind the Magnificent 7 winners, Microsoft, Alphabet, and Nvidia, but it surged 24% in the previous three months.