AAPL Rallies as iPhone 17 Sales Outpace iPhone 16

Core Viewpoint - Loop Capital upgraded Apple shares from hold to buy with a price target of $315, supported by supply chain checks indicating iPhone shipments will expand through 2027, potentially leading to three consecutive record years for iPhone shipments [1] iPhone Sales Data - Counterpoint Research reported that iPhone 17 sales in the first 10 days outperformed the iPhone 16 series by 14% in both China and the US [4] - The base model iPhone 17 has seen nearly a one-third increase in sellout compared to the iPhone 16, with Chinese consumers doubling their unit sales for the base model [5] Product Features and Pricing - The iPhone 17 offers better specifications, including an improved chip, display, higher base storage, and upgraded selfie camera, all at the same price as the iPhone 16 [5] - Discounts from major carriers in the US, such as Verizon, T-Mobile, and AT&T, have made the iPhone 17 Pro Max more attractive, with a 10% subsidy effectively reducing the price significantly [6] Market Reactions and Future Outlook - Anticipation of strong sales in China is building as pre-orders for the iPhone 17 begin, with expectations of positive outcomes despite initial delays [8] - Investors are optimistic about Apple's potential to break through all-time highs, especially with upcoming earnings reports [10][12]