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Key Takeaways
- Apple’s iPhone 17 outsold the prior lineup in the U.S. and China during its first 10 days of availability, according to a report from Counterpoint Research.
- The base model performed particularly well in China, while many American buyers upgraded to the Pro Max version.
Apple shares climbed to an all-time high Monday following a report suggesting strong demand for the company’s new iPhone 17 series in the U.S. and China, which account for the bulk of the company’s phone sales.
Apple’s (AAPL) iPhone 17 “far outpaces” sales of the company’s prior model, outselling the iPhone 16 by 14% during the first 10 days of availability in the U.S. and China, according to a report from tech product research firm Counterpoint Research.
Shares of Apple rose nearly 4% to close at a record high following the news, making the stock one of the top performers in the Dow Jones Industrial Average Monday.
Why This News Is Significant
Strong early sales of the iPhone 17 could be taken as an indicator of resilient brand loyalty and spending power among consumers in the face of economic uncertainty.
Counterpoint found the base model of the iPhone 17 was a big driver of sales in China, while the premium iPhone 17 Max saw strong demand in the U.S.
Counterpoint Senior Analyst Mengmeng Zhang pointed to the iPhone 17 base model’s “great value” for its performance, with “a better chip, improved display, higher base storage, selfie camera upgrade—all for the same price as last year’s iPhone 16.” Sales of the iPhone 17 base model in China were nearly double those of the 16 over a comparable period.
Meanwhile, the iPhone 17 Pro Max saw sales surge in the U.S., as Counterpoint said those who purchased Apple phones during the COVID-19 pandemic moved to upgrade and large carriers enticed buyers with higher subsidies.
This article has been updated since it was first published to reflect more recent stock prices.
