After the company’s stock price reached an all-time high on Monday in response to a Counterpoint Research report stating that initial iPhone 17 sales have outpaced iPhone 16 sales in the US and China, Apple’s (AAPL) market capitalization is approaching the $4 trillion barrier.

In early trading on Tuesday, Apple’s stock price increased by less than 1%.

The research claims that during the first ten days of the phones’ release in the area, iPhone sales increased by 14% year over year. Sales of the standard iPhone 17 increased by over one-third.

“The base model iPhone 17 is very compelling to consumers, offering great value for money,” Mengmeng Zhang, a senior analyst at Counterpoint Research, reported in a statement.

For the same price as the iPhone 16 from the previous year, it has an upgraded selfie camera, a better chip, a better display, and more basic storage. Purchasing this item is a no-brainer, particularly when channel discounts and promotions are included. Simply put, Chinese customers are thanking Apple for its exceptionally high value for money, Zhang continued.

Full Blog: https://hzrti.xyz/apple-stock-nears-4t-valuation-amid-strong-iphone-17-sales-report/