Apple Inc. (AAPL) Stock Surges on iPhone 17 Demand, Nears $4 Trillion Valuation
Apple shares reached a record high Monday, climbing over 6% in five days as bullish sentiment around the iPhone 17 lineup propelled the company toward a historic $4 trillion market capitalization. Loop Capital upgraded the stock to 'Buy,' citing stronger-than-expected global demand for Apple's latest flagship devices.
Counterpoint Research reported iPhone 17 sales outperformed its predecessor by 14% in the first ten days across critical U.S. and Chinese markets. The surge has ignited debate among analysts about whether current demand justifies Apple's 32x earnings multiple.
Secondary markets in Asia and Africa are experiencing a parallel boom as trade-in programs and recommerce channels absorb a wave of iPhone 17 upgrades. The rally solidifies Apple's lead among the 'Magnificent Seven' tech stocks, with year-to-date gains exceeding 20%.
