Apple Stock Surges 3% as iPhone 17 Demand Surpasses Expectations
Strong global pre-order data, particularly from China, reverses an initial post-announcement stock dip and fuels investor optimism for the holiday quarter.
Apple (AAPL) shares climbed more than 3% on Friday, propelled by the global launch of its new iPhone 17 lineup and mounting evidence of robust consumer demand that surpassed initial market expectations.
The rally marks a significant turnaround from a lackluster initial reaction to the phone's unveiling earlier in the month. Following the September 9th launch event, Apple's stock experienced a classic 'sell the news' dip, falling nearly 5% over two days as investors processed the incremental upgrades. However, sentiment has sharply reversed as began to surface.
Reports from the first weekend of sales indicate that global pre-orders for the iPhone 17 series are tracking 25% higher than for the iPhone 16 series last year. Demand has been particularly strong in China, where sales on e-commerce platform JD.com reportedly surpassed the entire first-day volume of the iPhone 16 within minutes of launch. This strong performance in a key market has alleviated concerns about Apple's competitive positioning and pricing power.
The positive sales indicators have been echoed by Wall Street analysts. JPMorgan responded by , citing the robust initial demand and an improving outlook for iPhone upgrade rates over the next year. Analysts at Morgan Stanley also noted that the strong start suggests iPhone replacement cycles could be stabilizing.
Driving the consumer interest are several key upgrades to the new lineup, including a larger 6.3-inch display with ProMotion technology for the standard iPhone 17 model and the introduction of a new, thinner 'iPhone 17 Air'. All models are powered by the new A19 chip, which enables enhanced performance and on-device AI capabilities, a feature set that as the company further develops its AI strategy. As the new devices reach customers worldwide, investors will be closely watching whether the initial sales momentum can be sustained through the critical holiday shopping season.