Apple Inc.’s (NASDAQ:AAPL) iPhone 17 series outsold the iPhone 16 lineup by 14% in the first 10 days of sales across China and the U.S., Apple’s two largest markets, according to Counterpoint Research’s China and U.S. third-quarter 2025 Smartphone Sell-Out Tracker.
The base iPhone 17 has driven demand in China as consumers responded positively to its strong value proposition, featuring a faster chip, better display, larger storage, and upgraded selfie camera at the same price as the iPhone 16.
The base model has driven strong sales, with overall sell-outs up nearly 33%. In China, consumer demand for the base model has nearly doubled compared to the iPhone 16.
Also Read: Apple iPhone 17 Pro, Pro Max Ship Times Stay Stable Globally: Analyst
In the U.S., the iPhone 17 Pro Max saw the fastest demand surge as major carriers raised device subsidies by 10% to target ultra-premium buyers through long-term financing plans, boosting Apple’s ecosystem loyalty.
Meanwhile, the eSIM-only iPhone Air slightly outperformed the iPhone 16 Plus. Apple opened pre-orders for the Air in China on October 17, a key step for eSIM adoption in the region, though its higher price and shorter pre-order window could limit its initial appeal.
Apple shares climbed on Monday, marking nearly a 7% gain over the past 12 months.
Analyst Commentary
Analysts have highlighted that Apple is gaining momentum from the strong demand for the iPhone 17. However, they felt investors may need to wait until results from the September and December quarters to gauge the full impact.
Gene Munster, managing partner at Deepwater Asset Management, said that the global iPhone’s 17 lead times indicate steady consumer demand. Three weeks after release, average wait times across eight countries were 2.29 weeks — about 13% longer than the iPhone 16’s 2.02 weeks.
Munster expects a slight miss in Apple’s fourth-quarter iPhone sales due to limited contribution from the new model, but anticipates substantial upside in fiscal 2026.
He also projects iPhone revenue to rise over 8% in fiscal 2026, exceeding Wall Street’s 5% consensus. He expects Apple’s guidance for the December quarter to “come in ahead of both the published estimates and the whisper number.”
JPMorgan on Robust Upgrade Cycle
Apple is riding strong demand for its iPhone 17 Series, fueled by loyal users upgrading to premium models and expanding traction in China, according to JPMorgan.
Analyst Samik Chatterjee said JPMorgan’s latest consumer survey points to a robust upgrade cycle led by existing iPhone owners, even as interest from Android users softens compared with last year.
Performance, design, and camera improvements remain the top drivers of upgrades, while AI features ranked lower in purchase motivation, Chatterjee noted.
Price Action: Apple shares were trading higher by 1.81% to $256.85 premarket at last check Monday.
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