Apple's new iPhone 17 outsells old model in US, China – boosting stock to all-time high

Core Insights - Apple's new iPhone 17 series has achieved higher sales than the previous iPhone 16 series in its first week in the US and China, with a 14% increase in sales over the first 10 days [1][5] - The company's shares rose over 4% to an all-time high, positioning Apple to potentially reach a $4 trillion valuation [1][2] - The iPhone 17 series, particularly the base model, is experiencing strong demand due to improved specifications and features [3][7] Sales Performance - The iPhone 17 series has outsold the iPhone 16 series by 14% in its initial sales period [1] - In China, sales of the base iPhone 17 are nearly double those of the base iPhone 16 during the same timeframe [3] - The iPhone 17 Pro is also seeing increased demand compared to its predecessor [7] Product Features - The iPhone 17 and 17 Pro models feature new cameras with four times the resolution of the iPhone 16 and a significantly larger front camera sensor [3][4] - Both models are powered by the new A19 chip, which offers computing power comparable to a MacBook Pro [4] - The iPhone 17 Pro includes enhancements such as a new design, improved zoom camera, larger battery, and better heat dissipation [4] Market Position - Apple's market capitalization reached approximately $3.9 trillion, making it the second largest company globally, following Nvidia [2] - The iPhone continues to be a critical revenue driver for Apple, accounting for roughly half of its total revenue [8][10] New Product Launch - Apple introduced the iPhone Air, which is the first major redesign since 2017, featuring a thickness of just 5.6 millimeters and a "space grade" titanium frame [8] - The iPhone Air is priced at $999, positioning it between the other new models [8] - The iPhone Air sold out quickly upon its launch in China, indicating strong consumer interest [10]