Apple Inc. is closing in on a $4 trillion market valuation, buoyed by strong investor confidence and surging demand for the newly launched iPhone 17 series.

Axar.az reports that shares of the company rose as analysts from Loop Capital and Evercore ISI issued bullish outlooks — Loop Capital upgraded Apple to Buy with a target of $315, while Evercore reaffirmed its Outperform rating with a $290 target.

The iPhone 17 has outperformed its predecessor by 14% in sales during its first 10 days, according to Counterpoint Research, with notable growth in both the U.S. and China.
The base model iPhone 17 is the key driver, up 33% in sales over the iPhone 16, especially popular among Chinese consumers. Meanwhile, the iPhone 17 Pro Max leads U.S. sales, helped by aggressive carrier subsidies.

The new iPhone Air model — highlighted during last month’s launch — has also exceeded expectations, particularly in China, where it reportedly sold out within minutes.

Apple will announce its quarterly earnings on October 30, with analysts projecting $1.76 EPS on $101.71 billion in revenue. The iPhone remains Apple’s largest business segment, generating roughly half of its total revenue.