苹果一夜市值增加一万亿！股价今年首创新高！iPhone 17热卖引爆换机潮，

Core Viewpoint - Apple's stock price surged nearly 4%, reaching a historical high for the first time since 2025, surpassing Microsoft to become the second-largest company by market capitalization in the U.S. This strong rebound is primarily driven by the unexpected sales performance of the iPhone 17 series, with sales in the first 10 days exceeding the previous generation by 14% in both China and the U.S. Analysts believe Apple is entering a long-awaited upgrade cycle [1][3][5]. Group 1: Stock Performance and Market Position - Apple's stock closed at $262.24, marking a 3.9% increase and breaking the highest record since December of the previous year, thus overtaking Microsoft [3]. - After a significant decline of 31% earlier this year, Apple's stock has rebounded over 50%, transitioning to an overall increase for the year by the end of September [3]. Group 2: iPhone 17 Series Demand - The strong demand for the new iPhone series has sparked optimism about a long-anticipated upgrade wave, particularly among consumers who have not upgraded since the pandemic [5]. - The iPhone 17 series, including the new iPhone Air, has received a positive market response, with analysts predicting a 4% revenue growth in Apple's smartphone segment for the latest fiscal year, reaching $209.3 billion [5][6]. Group 3: Analyst Sentiment - Loop Capital upgraded Apple's rating from "hold" to "buy," citing the beginning of a long-awaited upgrade cycle driven by product updates and new designs, raising the target price to $315, indicating a potential upside of about 20% from the recent closing price [8]. - Other analysts, including Evercore ISI and Melius Research, have also turned bullish on Apple, noting that the current upgrade cycle may differ from previous averages and that the new models are performing strongly in the Chinese market [9]. Group 4: Skepticism and Concerns - Some analysts express skepticism about whether the early sales momentum of the iPhone 17 can sustain Apple's current valuation, as the company's price-to-earnings ratio exceeds 32, significantly higher than its 10-year average of 22 [10]. - Jefferies analyst Edison Lee, one of the few with a "sell" or equivalent rating on Apple, warned that the sales momentum for the iPhone 17 is cooling and that expectations for a foldable iPhone may be overestimated due to potential high pricing [11].