Apple Inc. is rapidly approaching a $4 trillion market valuation, buoyed by the strong performance of its new iPhone 17 series, making it the second-most valuable company globally after chipmaker Nvidia.
Shares of the tech giant touched an all-time high of $262.9 on Monday (US time), pushing Apple’s market capitalisation close to $3.9 trillion, reported IANS.
Data from Counterpoint Research revealed that early iPhone 17 sales have outpaced those of the iPhone 16 series, particularly in major markets such as the United States and China. Apple is scheduled to announce its quarterly earnings on October 30.
Festive Sales Boost in India
In India, the iPhone 17 series has gained significant traction, surpassing the early performance of last year’s iPhone 16 series. Industry analysts and vendors reported that Apple recorded its highest-ever festive sales in the country, with forecasts pointing to a 28 per cent year-on-year growth for 2025, driven largely by the iPhone 17 series.
Analysts highlighted that first-week sales of the iPhone 17 series were 19 per cent higher than the previous generation, indicating strong consumer demand. The company is on track to achieve around 4.5 million shipments in the current festive quarter, with the iPhone Air contributing significantly to this growth.
Premium Smartphones See Rising Demand
While India’s smartphone market is predominantly driven by value-for-money devices, analysts note that premium smartphones are seeing healthy growth due to increasing disposable incomes and an expanding middle class.
The iPhone 17 (256 GB) starts at Rs 82,900, the iPhone Air (256 GB) from Rs 119,900, iPhone 17 Pro (256 GB) at Rs 134,900, and iPhone 17 Pro Max (256 GB) at Rs 149,900.
Apple’s Manufacturing Footprint in India
India is becoming a crucial hub for Apple’s production strategy, with one in every five iPhones now being manufactured in the country. This aligns with the government’s ‘Make in India’ initiative and further strengthens Apple’s presence in the region.
Apple’s annual sales reached nearly $9 billion in the last fiscal year, supported by rising consumer incomes and strong market demand, according to analysts. The continued success of the iPhone 17 series is expected to further cement the company’s growth trajectory both globally and in India.
