Apple(US:AAPL) Benzinga·2025-09-21 05:45Core Insights - Apple Inc. has officially ceased direct sales in Russia since the 2022 Ukraine invasion, yet iPhone 17 models are now available in Moscow through the government's parallel imports initiative [1][2] - The parallel imports program allows products to enter Russia from non-sanctioning countries, with significant demand for iPhones reported [2][5] Group 1: Market Dynamics - The gray-market route generated $1.1 million worth of iPhones in the first half of 2023, with iPhone 15 units appearing in Moscow stores 24 hours before their global launch [4] - Demand for the iPhone 17 has doubled compared to the previous model, with government purchases of iPhone 16 units in 2024 being four times higher than in 2023 [5] Group 2: Pricing and Market Share - MTS is pricing the standard iPhone 17 at approximately £977 and the iPhone 17 Pro at £1,465, reflecting significant markups over the official U.S. retail price of $799 [7] - Apple holds a dominant 57.24% market share in the U.S., with record pre-orders in China [7] Group 3: Company Performance - Bank of America Securities has increased Apple's price target to $270, citing strong performance and deeper integration of AI [6]