Early indications from the global launch of Apple’s iPhone 17 suggest the device is resonating more strongly with consumers than some analysts had initially predicted following its September 9th unveiling. Reports from the first day of sales this past Friday point to robust consumer interest, providing a timely boost for the technology giant.
The upbeat early signals have not gone unnoticed on Wall Street. In a direct response to the initial sales data, JPMorgan revised its price target for Apple shares upward during the trading day. The bank maintained its “Overweight” rating on the stock, explicitly citing the stronger-than-anticipated consumer demand as the reason for its more optimistic outlook.
This positive reception is particularly crucial for Apple at this juncture. Following a period characterized by incremental product updates and mounting competitive pressures, especially within the critical Chinese market, a successful launch could signal a return to more vigorous growth.
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Consumer enthusiasm was visibly demonstrated by the formation of long queues outside Apple Stores in major Asian and European cities. Notably, the premium Pro models appeared to be in especially high demand. Perhaps more significant, however, was a subsequent supply chain report from the specialist publication The Information. According to the report, Apple has instructed at least two of its suppliers to increase production for the more affordable base model iPhone 17 by a minimum of 30%. This directive came on the heels of unexpectedly high pre-order volumes over the weekend, indicating that demand for the $799 device is surpassing the company’s original projections.
A key takeaway from the launch is the breadth of the appeal across Apple’s product lineup. While the high-margin Pro models are performing well, the strong uptake of the standard model indicates a wide acceptance across different consumer price segments. This balanced demand could prove vital for Apple, helping it defend market share against aggressive competitors and build momentum for a high-volume holiday sales season.
Attention now turns to the company’s upcoming quarterly report, scheduled for release in late October. These first official sales figures will provide the clearest indication of whether the early optimism is justified or if Apple is simply riding a wave of broader sector-wide enthusiasm.
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