The surge in shares was fueled by the iPhone 17 outselling the iPhone 16 in China and the U.S., according to a report from Counterpoint Research.
Key Facts
Apple shares closed up 3.9% at $262.24 on Monday, marking the stock’s highest close of all time.
Monday’s rally comes after a report from Counterpoint Research found the iPhone 17 outsold the iPhone 16 by 14% in China and the U.S. within its first 10 days of release (Sept. 19).
U.S. and China sales for the base iPhone 17 model account for 22% of Apple’s newest offerings, up 31% from the iPhone 16’s initial 10-day sales.
The iPhone maker’s stock is now up 5.9% in the last week of trading.
