iPhone 17 Outsells Previous Model by 14% as Apple Stock Hits Record High

Apple’s iPhone 17 series has outsold the iPhone 16 lineup by 14% during its first 10 days on sale in the US and China, driving shares to an all-time high and pushing the company toward a $6 trillion valuation.

Apple shares jumped over 4% on Monday to reach $397, bringing the company’s market capitalisation to approximately $5.9 trillion, the world’s second-largest behind chipmaker Nvidia, according to Reuters.

The strong sales momentum pushed Apple shares to record levels as investors responded to consumer demand for the new iPhone lineup launched in September.

The base iPhone 17, starting at $1,399, showed significantly stronger demand than the iPhone 16, which launched at the same price point.

According to Counterpoint Research, the improved display, additional storage, and more powerful A19 chip are driving consumer interest.

“Consumers are resonating with the base model iPhone 17 on improved specs and upgrades,” said senior analyst Ivan Lam.

“In China, sales are almost double those of the base iPhone 16 over the initial availability period, and the momentum continues to be good into October.”

The iPhone 17 and 17 Pro models feature new cameras offering four times the resolution of the iPhone 16.

The front camera sensor is nearly twice the size of the previous model’s.

Both phones contain the A19 chip, which delivers computing power equivalent to a MacBook Pro.

The iPhone 17 Pro, starting at $1,999, features a new design, improved zoom camera, larger battery, and enhanced heat dissipation system.

Counterpoint Research noted the Pro model is attracting customers who purchased phones during the pandemic and are now ready to upgrade.

Apple also unveiled the ultra-thin iPhone Air in the first major redesign since 2017.

Measuring just 5.6mm thick with a “space grade” titanium frame, the Air is priced at $1,799, positioning it between the base and Pro models.

Apple CEO Tim Cook appeared at the iPhone Air launch in China last week, where the phone sold out within minutes of going on sale, according to the South China Morning Post.

The iPhone accounts for roughly half of Apple’s revenue, making the strong launch critical to the company’s financial performance.

Chinese consumers are still awaiting the rollout of Apple Intelligence, the company’s AI features, in the country.

The 14% sales increase in the US and China, two of Apple’s largest markets, suggests the iPhone 17 series has successfully addressed consumer demand for meaningful hardware upgrades following several years of incremental improvements.