TLDR
- iPhone 17 series achieved 14% higher sales than iPhone 16 in first 10 days across China and US
- Base iPhone 17 model nearly doubled sales in China compared to iPhone 16 launch
- Entry-level model saw 31% sales increase across both markets combined
- Apple stock added to Evercore ISI “Tactical Outperform” list with $290 target price
- Upgraded features at unchanged price point driving consumer demand
Apple’s iPhone 17 series has launched with strong sales momentum in two of the company’s largest markets. New data from research firm Counterpoint reveals the latest generation smartphones are outperforming last year’s models by a substantial margin.
The iPhone 17 lineup sold 14% more units than the iPhone 16 series during the first 10 days of availability in China and the United States. Apple launched the iPhone 17 globally in September, making these early sales figures a key indicator of consumer reception.
China proved to be a particularly strong market for the base iPhone 17 model. Sales of the entry-level device nearly doubled compared to the iPhone 16 during the same launch period. When combining data from both the Chinese and American markets, base model sales jumped 31% year-over-year.
Counterpoint Senior Analyst Mengmeng Zhang pointed to the device’s value proposition as a key factor. The base iPhone 17 offers enhanced specifications compared to its predecessor while maintaining the same retail price. Upgrades include an improved processor, better display technology, expanded base storage, and an enhanced front-facing camera.
Strong Analyst Support
The positive sales data has caught the attention of Wall Street analysts. Evercore ISI added Apple stock to its “Tactical Outperform” list, reflecting increased confidence in near-term performance. Analyst Amit Daryanani maintains an “Outperform” rating with a $290 price target for Apple shares.
Apple stock traded at $253.17 in pre-market sessions following the announcement. The company currently holds a market capitalization of $3.74 trillion with shares ranging between $169.21 and $260.10 over the past 52 weeks.
Evercore ISI’s optimism stems from multiple data points beyond initial sales figures. Lead times for the base iPhone 17 exceed those of the previous generation, suggesting sustained demand. Consumer surveys indicate strong interest in hardware upgrades, particularly for Pro and Pro Max variants.
The analyst firm raised its price target from $260 to $290 in late September. Survey data revealed growing consumer preference for higher memory configurations, which could drive average selling prices up by approximately 7% on a yearly basis.
Apple Services Segment
While hardware sales show strength, Apple’s Services division presents a mixed picture. App Store revenue grew 7% year-over-year in September, down from 14% growth in August. Despite this slowdown, Evercore ISI expects Apple to achieve double-digit Services growth for the September quarter.
The firm’s March 2025 analysis positioned Apple as capable of sustaining mid-single-digit revenue growth. Projected drivers include emerging market expansion, artificial intelligence feature development, and expansion into healthcare, advertising, and payment services.
Apple’s diversified revenue model combines hardware sales with subscription and service offerings. The Services segment provides recurring revenue that complements cyclical iPhone sales patterns. The company’s ability to grow both segments simultaneously supports long-term financial projections.
The iPhone 17’s early performance in China holds particular importance given the competitive smartphone market there. Domestic Chinese manufacturers offer high-specification devices at competitive prices, making Apple’s market share gains in the region noteworthy from a business perspective.
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