Apple Shares Climb on Strong iPhone 17 Momentum

Apple (NASDAQ: AAPL) gained 1.5% in premarket trading Monday as new data from Counterpoint Research and positive analyst commentary pointed to strong early sales for the iPhone 17 series.

Both Loop Capital and Evercore ISI upgraded or reiterated bullish calls on Apple, citing sustained consumer demand across key markets.

Analyst Upgrades and Price Targets

Loop Capital upgraded Apple to Buy from Hold, raising its price target to $315 from $226.
Analyst Ananda Baruah cited “material upside” for the iPhone business given strong iPhone 17 sales trends.
Evercore ISI added Apple to its Tactical Outperform List, reaffirming its Outperform rating and $290 price target.

Both firms noted that iPhone 17 demand could drive upside into Apple’s upcoming earnings report.

Counterpoint Research Data Highlights

According to Counterpoint Research, the iPhone 17 series has outsold the iPhone 16 lineup by 14% in its first 10 days of launch across the U.S. and China.
Key insights:

The base model iPhone 17 is the top driver, with 33% higher sell-out rates than the iPhone 16.
In China, consumers have shown a strong preference for the standard iPhone 17.
In the U.S., the iPhone 17 Pro Max leads sales, helped by heavy carrier subsidies from AT&T, Verizon, and T-Mobile.

“Carriers are looking to maximize lifetime value by converting strong device subsidies into years of higher monthly service revenue,”
said Counterpoint’s Maurice Klaehne, adding that the trend is bolstering Apple’s premiumization strategy.

iPhone Air Also Showing Strength

The iPhone Air, unveiled last month, is outperforming the previous iPhone 16 Plus in most markets.
Chinese outlet South China Morning Post reported it sold out within minutes in China after receiving approval.

Earnings Ahead

Apple is set to report quarterly results on October 30 after market close.
Analysts expect:

EPS: $1.76
Revenue: $101.71 billion

Strong iPhone 17 sales could give Apple a boost ahead of its fiscal Q4 report.