Apple Stock Inches Closer to All-Time High on Strong iPhone Sales

Apple's stock has rebounded since the September 9 product launch event and is now hovering around $334, just 3% away from its all-time high of $344.26.

The market is pinning hopes for breaking previous highs on sales of new products, particularly the iPhone 18 Pro and 18 Pro Max.

Delivery lead times for these models have expanded more than during the same period last year, according to JPMorgan data, with global average home delivery lead times standing at 19 days and 26 days, respectively.

However, the Chinese market shows a significant year-over-year gap in delivery lead times, with 25 days for the 18 Pro and 29 days for the 18 Pro Max as of September 16.

A survey by Evercore ISI indicates that the iPhone upgrade cycle is performing stronger than expected, driven by the latest models, with consumers planning to purchase high-end iPhones in higher numbers.