Apple’s stock price just reached an all-time high, currently sitting around $263 per share and rising. Here are the details.
iPhone 17 sales seem to spur AAPL stock growth
Apple reports its next quarterly earnings next week, when we’ll get the first official word on iPhone 17 sales.
But in the meantime, third-party reports keep indicating the latest iPhone lineup is proving a big hit for Apple.
Counterpoint Research’s report is the latest sign of strong sales, and the recent iPhone Air launch in China seems to be going extremely well too.
These reports no doubt were influences in Loop Capital’s decision today to upgrade its recommendation for AAPL from ‘Hold’ to ‘Buy.’
Via CNBC:
“While [Wall] Street is baking in some degree of outperformance from AAPL’s iPhone 17 family of products, we believe there remains material upside to Street expectations through CY2027,” Loop Capital’s Ananda Baruah said in a note to clients on Monday.
All of this helps explain why Apple’s stock has been surging today.
Currently, AAPL stock is hovering around $263. It’s expected to continue fluctuating throughout the day.
The previous high was from last December, when the stock hit $258.10.
Overall, the broader stock market seems to be having a strong day. Per CNBC this is likely due to expectations of the US government shutdown ending very soon.
Even though AI is clearly a big driver of Wall Street activity, it seems any concerns around Apple’s ability to ship an upgraded Siri aren’t creating real hesitation with investors as of yet. Strong iPhone sales are hard to argue with.
What do you think of Apple’s recent stock success, and do you expect it to continue? Why or why not? Let us know in the comments.
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