Apple shares surged on Monday as it became the third company to hit a $4 trillion market valuation. This comes as data shows a strong momentum for the latest iPhone 17.
According to data from the research firm Counterpoint, the iPhone 17 series outperformed its predecessor in early sales in China and the United States, with the newer models out-selling the iPhone 16 series by 14% during their first 10 days of availability in the two countries.
Apple shares jumped 4.2% to $262.9, giving it a market capitalization of about $3.9 trillion and making it the second most valuable company, after Nvidia.
READ: Apple’s former CEO John Sculley calls OpenAI ‘Apple’s first real competitor in decades’ (
“The recent launch of online orders in China may be a positive tailwind for the [December quarter], as initial delivery time data reflects stronger initial demand relative to other regions at launch,” Evercore ISI analysts wrote in a note.
Apple rolled out its latest line of iPhones in September. This includes the iPhone air, which is the thinnest and lightest model till date. This model is known for its “airiness,” because of its titanium frame. It measures at just 5.6 millimeters thick. This makes it about 0.08 inches (slightly over 2 mm) thinner than other iPhone models and thinner than Samsung’s 5.8 mm Galaxy S25 Edge. It is also an eSim-only device, which aids the sleek look.
“They rolled out the latest version of their iPhone and it’s doing much better than anticipated… the demand trends for the company’s iPhones are now on the front foot,” said Art Hogan, chief market strategist at B. Riley Wealth.
READ: Apple debuts iPhone Air, its thinnest iPhone ever (
Many believe that Apple has of late, fallen behind its competitors with regard to artificial intelligence. The company has not provided consistent product updates like its competitors like OpenAI, Google, Amazon, and Meta. It had also experienced setbacks in the rollout of products, and faced class-action lawsuits over the delay in the arrival of a new and improved version of Siri under the umbrella of Apple Intelligence’s generative AI features. Apple’s former CEO John Sculley had said that Apple now had a “real competitor” in OpenAI, after many years.
Apple’s shares had struggled earlier because of concerns over tough competition in China, and uncertainties surrounding high U.S. tariffs. However, the stock has risen modestly since early August after the company pledged $100 billion in additional U.S. investment, a move that could help it sidestep potential tariffs. The stock is set for the biggest one-day jump in four weeks if gains hold and will be up more than 5% for the year.