Apple’s base iPhone 17 is leading sales in China, while the Pro Max version is driving strong demand in the US|MIKI Yoshihito|CC BY 2.0
Apple shares surged 4.2% to an all-time high of $262.9 on Monday, lifting its market value to $3.9 trillion and putting it close to the $4 trillion mark, overtaking Microsoft to become the second-largest US company by market value, behind Nvidia.
The rally followed research firm Counterpoint’s report showing iPhone 17 sales outpaced the iPhone 16 by 14% in the first 10 days across China and the US, Apple’s biggest markets.
The base iPhone 17 is leading sales in China, while the Pro Max version is driving strong demand in the US, helped by carrier subsidies targeting premium users. The new ultrathin iPhone Air, though less popular, is outselling last year’s Plus model.
Apple’s recovery comes as tariff worries ease and investors regain confidence in its AI strategy.
The company, which last hit a record in December, is now regaining market share in China after lagging behind domestic rivals.
Analysts say renewed demand in China and early upgrade cycles signal Apple’s strong market rebound.