New iPhone launch pushes Apple shares to record highs

The Motley Fool reports that Apple (AAPL) shares surged nearly 4%, hitting an all-time high of $262.26, giving the company a market cap of $3.9 trillion. Investor optimism grew after several bullish analyst upgrades and strong early iPhone 17 sales.

Source The Motley Fool

According to Counterpoint Research, the new iPhone 17 outsold its predecessor by 14% in its first 10 days, with base model sales up 31% across the U.S. and China. These results signal renewed consumer demand for Apple’s products after a quieter year.

Loop Capital’s Ananda Baruah upgraded Apple to “buy” and raised the price target to $315 per share. Analysts note that Apple’s resurgence reflects both robust iPhone momentum and renewed investor confidence heading into the year’s final quarter.