Apple stock closes at record high after new iPhone sales
(MENAFN) Shares of US technology company Apple surged to a record closing of $262.24 on Monday, following reports that the new iPhone 17 is outperforming its predecessor in both the United States and China.
Data from market analysts indicates that the iPhone 17 series, released in September, sold 14% more units than the iPhone 16 series during the first ten days of availability in these key markets. The announcement drove Apple’s shares up by 3.94% on Monday.
“The base model iPhone 17 is very compelling to consumers, offering great value for money,” said Mengmeng Zhang, senior analyst at the research firm. She added, “A better chip, improved display, higher base storage, selfie camera upgrade – all for the same price as last year’s iPhone 16. Buying this device is a no brainer, especially when you throw channel discounts and coupons into the mix. Simply put, it provides extremely good value-for-money, and Chinese consumers are rewarding Apple for that.”
Apple’s stock has seen fluctuating performance throughout 2025. While up approximately 5% year-to-date, it has lagged behind top tech performers such as Microsoft, Alphabet, and Nvidia. However, over the past three months, Apple shares have experienced a strong rally, climbing 24%.
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