NEW DELHI– Powered by strong global demand for its new iPhone 17 series, Apple is closing in on a historic $4 trillion market valuation, positioning itself as the world’s second-most valuable company after chipmaker Nvidia.
Apple’s shares hit an all-time high of $262.90 on Monday (U.S. time), pushing the company’s market capitalization to nearly $3.9 trillion. The tech giant is expected to report its quarterly earnings on October 30.
According to Counterpoint Research, the iPhone 17 lineup has outperformed its predecessor in early global sales, with particularly strong results in China, the United States, and India. Analysts said the new models have boosted Apple’s growth momentum across both premium and mainstream segments.
In India, the iPhone 17 series has given a fresh boost to the “Make in India” initiative, as sales have exceeded those of last year’s iPhone 16 lineup. Vendors and industry analysts said Apple achieved record-breaking festive sales in the country, with a projected 28 percent year-on-year growth in 2025.
Apple’s India revenue touched a record $9 billion in the last fiscal year, supported by rising disposable incomes and strong consumer demand. Analysts estimate that the first week of iPhone 17 sales was 19 percent higher than that of the iPhone 16 series. The company is also expected to surpass 4.5 million shipments during the current festive quarter, aided by growing traction for the iPhone Air model.
Despite India’s price-sensitive smartphone market, premium device sales are expanding rapidly, driven by a growing middle class. The iPhone 17 (256 GB) starts at Rs 82,900, the iPhone Air (256 GB) at Rs 119,900, the iPhone 17 Pro (256 GB) at Rs 134,900, and the iPhone 17 Pro Max (256 GB) at Rs 149,900.
Apple’s manufacturing footprint in India continues to grow, with one in every five iPhones now assembled domestically—a key step in its strategy to diversify production and strengthen its position in one of the world’s fastest-growing premium smartphone markets. (Source: IANS)
