Apple scores huge victory with rising iPhone sales

The Magnificent Seven member and leading cell phone innovator Apple, according to a research firm, outpaced demand for its latest iPhone 17 series and boasted higher earnings, contributing to the surge of its stock price today.

The Apple logo, NBC News.

According to the research firm Counterpoint, the iPhone 17 lineup outsold the iPhone 16 by 14% YoY, with the iPhone 17 Pro and Pro Max contributing to 75% of these sales, while the base model made up 22% of the sales and the Air 3%. These results were contributed by the newfound availability of the iPhone models in China and the U.S., which have bolstered demand for Apple products. The models were also introduced in Berlin, Buenos Aires, London, New Delhi, Seoul, Tokyo, Taipei, and many other major cities and regions across the world.

Senior Analyst at Counterpoint Mengmeng Zhang noted, "The base model iPhone 17 is very compelling to consumers, offering great value for money... A better chip, improved display, higher base storage, selfie camera upgrade – all for the same price as last year’s iPhone 16. Buying this device is a no brainer, especially when you throw channel discounts and coupons into the mix. Simply put, it provides extremely good value-for-money, and Chinese consumers are rewarding Apple for that."

Apple has previously received complaints for increasing iPhone prices while offering minimal changes over time to the models, but this specific series has proven different with its relatively equal prices to those of last year, with much greater functionalities, including greater access to artificial intelligence features, which has been in-demand among cell phones for the past several years.

Domestically, the report stated that the three biggest cell phone carriers, due to boosting subsidies, caused the iPhone 17 Pro Max to receive a massive bump in demand.

As a result of the release of the report, Apple shares soared 3.94% on October 20th, and overall contributing to a market-wide rally.