Numbers that tell: Apple iPhone 17 series is a 'hit' in the US and China

Apple shares climbed 4% on Monday, October 20, 2025, following a report from Counterpoint Research highlighting robust early sales of the iPhone 17 series in the US and China. The iPhone 17, launched in September, has outperformed its predecessor, the iPhone 16, by 14% in both markets within its first 10 days of availability.

Counterpoint senior analyst Mengmeng Zhang attributed the strong demand to the base model iPhone 17’s compelling features, including a faster chip, enhanced display, increased base storage, and an upgraded selfie camera -- all offered at the same price as last year’s iPhone 16. “Buying this device is a no-brainer, especially with channel discounts and coupons,” Zhang said. The positive sales data prompted Loop Capital to upgrade Apple’s stock rating from hold to buy, raising its price target from $226 to $315 per share.

Analyst Ananda Baruah noted, “We believe there remains material upside to Street expectations through CY2027,” citing stronger-than-anticipated demand for the iPhone 17 lineup.

Adding to the optimism, Apple CEO Tim Cook’s recent visit to China coincided with the launch of the iPhone Air, which reportedly sold out in minutes, according to the South China Morning Post. Evercore analyst Amit Daryanani, in a Sunday note, suggested that the iPhone Air’s popularity in China could further lift Apple’s stock, with the firm maintaining a buy-equivalent rating.

Daryanani also predicted that Apple is “well positioned to report upside” in its upcoming earnings report later this month.Apple’s iPhone Air sells out in China in minutesPre-sales for the iPhone Air, which supports only e-SIM and received regulatory approval to launch in China just recently, began at 9am local time on Friday ( October 17) – more than a month later than most of the world. Minutes after bookings opened, the model was reportedly sold out at all bricks-and-mortar stores in Beijing and Shanghai, as well as in cities like Tianjin, according to Apple’s website.

Online shipments were delayed by one to two weeks.Despite a volatile year, with Apple’s stock up just 5% in 2025 compared to stronger performances by Magnificent 7 peers like Nvidia and Meta, the company has seen a 24% surge in its stock price over the past three months. With the iPhone 17’s strong start and positive analyst outlooks, Apple appears poised for continued momentum.