Apple shares soared to a record high on Monday, as strong demand for its latest iPhone pushed the tech giant closer to becoming the world’s third company to reach a $4 trillion market valuation.

Data from research firm Counterpoint showed the iPhone 17 series outperformed its predecessor in early sales in China and the United States, with the newer models out-selling the iPhone 16 series by 14% during their first 10 days of availability in the two countries.

Apple shares jumped 4.2% to $262.9, giving it a market capitalization of about $3.9 trillion and making it the second most valuable company in the world after AI-chip giant Nvidia .

Over the weekend, Evercore ISI added the stock to its Tactical Outperform List as the brokerage expects Apple to beat market expectations for the cu

See Full Page