Apple’s stock price hit record high as iPhone 17 sales reignite investor optimism
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Key Takeaways
• Apple’s share price reached an intraday high of $264.38 and settled at $262.24, setting new records.
• Early sales of the iPhone 17 outpaced the prior model by 14% in the first 10 days in the U.S. and China.
• Analyst sentiment improved significantly: for example, Loop Capital upgraded Apple’s stock from “hold” to “buy” and set a target of $315.
Not too long ago, Apple was on the defensive. Sales in China were softening, the competition was fiercer than ever, and analysts were beginning to whisper the one thing every tech giant dreads, that maybe, just maybe, the iPhone’s magic was fading.
Its market share had slipped as rivals like Huawei and Xiaomi mastered the art of offering…
