Apple Shares Hit Record High on Strong iPhone 17 Holiday Forecast

Apple Inc. shares surged to record highs amid an optimistic holiday sales forecast driven by strong demand for the iPhone 17 despite supply constraints, particularly in China. The company reported a fiscal Q4 revenue of $102.5 billion, an 8% increase year-over-year, and expects December-quarter revenue growth of 10% to 12%, surpassing analyst estimates. CEO Tim Cook expressed confidence in the company's product lineup and services, predicting the best-ever holiday quarter for Apple and the iPhone. Apple's market capitalization briefly crossed the $4 trillion mark, ranking it among the most valuable global tech firms, despite some softness in the Chinese market due to local competition. While Apple has taken a more cautious approach to AI compared to rivals, analysts remain bullish on its long-term profitability, valuing the stock at a premium relative to peers like Microsoft and Meta. The strong performance in wearables, services, and iPhone sales underscores Apple's resilience and sustained investor confidence heading into the critical holiday season.