iPhone 17 Success Propels Apple Market Value Close to India’s Economy, Analysts Optimistic
Apple Inc., the tech giant behind the iconic iPhone and MacBook, has reached a significant milestone as its shares soared to record levels due to the strong demand for the latest iPhone 17. On Monday, Apple’s stock jumped 2 percent to close at $262.9, driving the company’s market capitalization close to $4 trillion. If Apple surpasses this threshold, it will become only the third company in the world to achieve such a valuation, following Nvidia and Microsoft. Currently, Apple’s market cap stands at $3.9 trillion, making it the second-largest company globally, with Nvidia slightly ahead.
To put this achievement into perspective, Apple’s market cap is now roughly equivalent to India’s economy. According to the International Monetary Fund (IMF), India’s current GDP is approximately $4.3 trillion, ranking it fifth in the world. The comparison underscores Apple’s immense financial scale and influence in the global market, rivaling the economic output of entire nations.
The primary driver behind Apple’s market surge is the overwhelming demand for the iPhone 17 series. Research firm Counterpoint reports that sales of the iPhone 17 in China and the United States have already surpassed those of the iPhone 16. Within the first ten days of availability in these markets, the iPhone 17 series sold 14 percent more units compared to the iPhone 16 during the same period. The new series was launched in September and features significant upgrades while maintaining a competitive price point for the base model.
Experts are optimistic about Apple’s continued growth in the coming months. Over the weekend, Evercore ISI included Apple in its technical outperform list, expecting the company to exceed market expectations over the next quarter. Analysts noted that the recent start of online orders in China signals strong consumer demand, which could positively impact the December quarter. Art Hogan, Chief Market Strategist at B. Riley Wealth, also highlighted that the iPhone 17 series has outperformed expectations, with strong initial sales indicating robust consumer interest.
This year, Apple shares experienced volatility earlier due to concerns over US tariffs affecting its operations in China and India, both critical manufacturing hubs. However, the company’s commitment to an additional $10 billion investment in the United States has helped alleviate tariff pressures, boosting investor confidence. The strong sales of the iPhone 17 have further strengthened the stock, propelling it to record highs.
A key factor behind this growth is the base model of the iPhone 17. Apple introduced substantial upgrades in the regular model, including a faster processor, enhanced display, increased storage, and an improved selfie camera, while keeping prices comparable to last year’s iPhone 16. Counterpoint analyst Mengmeng Zhang emphasized that the base iPhone 17 offers excellent value for money, which has driven high sales in China. Consumers have responded positively to the combination of enhanced features and affordability, making it one of the most successful iPhone launches in recent years.
In the United States, however, the Pro Max model is the dominant choice. This is largely due to aggressive trade-in offers and contract plans by major telecom providers, which provide significant discounts to customers who commit to long-term plans. This strategy has encouraged more consumers to purchase the higher-end Pro Max, benefiting both Apple and its carrier partners.
Overall, Apple’s strong performance reflects a combination of strategic product launches, pricing, and market positioning. The iPhone 17 series has revitalized interest in the company’s smartphone lineup and reinforced Apple’s position as a global tech leader. Analysts remain bullish, anticipating that the strong demand will continue to support the company’s market cap and stock price in the near term.
With Apple’s market cap nearing $4 trillion and its shares performing robustly, the company has demonstrated remarkable resilience and innovation in a competitive global market. The success of the iPhone 17 underscores Apple’s ability to meet consumer expectations while delivering value and performance. Investors and analysts will closely monitor the company’s quarterly performance, but the current trajectory suggests that Apple is well-positioned to maintain its leadership in the smartphone and technology sectors.
