• iPhone 17 series outsells iPhone 16 by 14% within the first 10 days of launch.
• Apple's stock rises to a record high following positive sales reports.
• Strong demand driven by enhanced features and competitive pricing.

Apple's latest iPhone 17 series has reportedly outperformed its predecessor, the iPhone 16, by 14% in sales within the first 10 days of release in the US and China. This impressive figure comes from data provided by Counterpoint Research, highlighting a substantial early demand for the base model among consumers in both crucial markets. Analysts attribute this rise to several improvements in the device, including better display quality, expanded storage, and the upgraded A19 chip. According to South China Morning Post and India Times, sales momentum remains strong into October.

Following these positive sales figures, Apple's stock closed at a record high of $262.24, reflecting a significant increase of approximately 3.94% on the day of the report. The stock's performance has been marked by fluctuations this year, but it has seen a 24% increase over the past three months, as per data from AA. Analysts, including Mengmeng Zhang from Counterpoint, emphasized that the iPhone 17 offers exceptional value, especially with attractive channel discounts, which is appealing to consumers.

The iPhone 17 series appeals particularly to those consumers who have delayed upgrading their smartphones, as the new models feature significant enhancements without increasing the price compared to last year's offerings. This strategy has effectively engaged a broader audience, as noted by various analysts including the insights offered by South China Morning Post and India Times. The trajectory of demand signals a potentially favorable outlook for Apple's performance in their upcoming earnings report this month.