Apple Inc. has been on a tear in the stock market over the past few months, as iPhone optimism powers the shares to record highs. Investors will get a sense of whether that enthusiasm was warranted when it reports earnings after the bell Thursday.
Since the beginning of August, Apple’s stock is up more than 30% and its market capitalization has risen from $3 trillion to $4 trillion. Investors are encouraged by strong sales of the iPhone 17 as phone prices rise. An analysis from Counterpoint Research shows the iPhone 17 series outsold the iPhone 16 by 14% over their respective first 10 days on the market in the US and China.