Xin Lang Cai Jing·2025-10-21 04:49Core Viewpoint - Apple has surpassed Microsoft to become the second-largest company by market capitalization, following Nvidia, with a market cap of $3.89 trillion as of October 20, 2023 [1][3]. Group 1: Stock Performance - Apple's stock price rose significantly, closing at $262.9 per share, a 3.94% increase, and reached a new high for the year, with intraday trading exceeding $264 [1]. - The stock surge is attributed to strong demand for the iPhone 17 series and upgrades in ratings and target prices by various institutions, leading to increased buying in the tech sector [3]. Group 2: iPhone 17 Demand - The iPhone 17 has seen a better-than-expected reception and upgrade cycle compared to its predecessor, with sales in the first ten days in the U.S. and China up approximately 14% from the iPhone 16 [4]. - In China, Apple achieved a shipment volume of 10.1 million units in Q3 2025, ranking among the top three smartphone manufacturers and being the only major player to show positive growth, while the overall smartphone market in China declined by 3% [4]. Group 3: Market Sentiment and Analyst Upgrades - Several brokerages, including Loop Capital and Evercore ISI, have updated their outlook on Apple, placing it on a more positive "buy" list and raising target prices, reflecting confidence in future hardware revenue and shipment growth [4]. - Analysts highlight that the successful launch of the iPhone 17, with demand trends leading the market, has significantly improved market sentiment towards Apple [4]. Group 4: Pricing Strategy - The iPhone 17 was launched at the same starting price as the iPhone 16, maintaining a price of $799 in the U.S. and 5,999 yuan in China, with discounts potentially lowering the price to around 5,000 yuan [5]. - Apple's upcoming Q4 2025 fiscal report, scheduled for October 30, will provide insights into the performance of the new iPhone and sales data from July to September [5].