Key Takeaways

Apple stock hit an intraday all-time high and a record close on Monday.

The spike is attributed to strong demand for the new iPhone 17 series, which have significantly outperformed initial iPhone 16 sales, according to Counterpoint Research.

Apple is at the “front end” of a “long-anticipated [iPhone] upgrade cycle” that will last through 2027, per analysts.

Apple stock reached an all-time high on Monday, hitting an intraday record of $264.38 and a record close of $262.24.

The stock price surpassed its previous all-time high of $260.10 in intraday trading set on December 26, 2024.

The recent rally followed a report released Monday from Counterpoint Research indicating that initial iPhone 17 sales have significantly outperformed initial iPhone 16 sales. Accordin

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