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Apple Stock Hits All-Time High on Bullish iPhone 17 Sales Data
Apple Stock Hits All-Time High on Bullish iPhone 17 Sales Data
BTCCSquare news:
Apple Inc. (AAPL) surged nearly 4% to a record high Monday, outperforming the S&P 500's 1.1% gain, after Counterpoint Research reported strong early sales for its iPhone 17. The new model's sales exceeded its predecessor by 14% in the U.S. and China during the first 10 days of availability, with the base variant seeing 31% higher sales.
Loop Capital upgraded Apple to buy from hold, raising its price target to $315 from $226, citing accelerating demand for the latest iPhone iteration. The tech giant remains heavily reliant on hardware, generating $67 billion from devices in its last quarter, even as services revenue grows.
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