(MENAFN) Apple's stock hit an all-time high of $262.24 on Monday, driven by a report indicating that the iPhone 17's sales in the US and China have surpassed those of previous models during their launch period.

Data from Counterpoint Research revealed that in the first 10 days of availability, the iPhone 17 series, released in September, outperformed the iPhone 16 series by 14% in both the United States and China.

After the release of the report, Apple's shares rose by 3.94% on Monday.

“The base model iPhone 17 is very compelling to consumers, offering great value for money,” commented Mengmeng Zhang, a senior analyst at Counterpoint Research.

She further explained, “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."

While Apple’s stock has seen some fluctuations this year, it has risen by approximately 5% in 2025.

However, it still lags behind major players like Microsoft, Alphabet, and Nvidia. Over the past three months, though, Apple has experienced a notable surge of 24%.

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