Apple shares rose nearly 4% on Monday to a record close of $262.24 as a new report showed iPhone 17 sales off to a strong start in the U.S. and China. With this rally, the tech giant's valuation now stands at around $3.9 trillion, just a whisper away from the $4-trillion-dollar mark. The iPhone 17 series, which dropped in September, has outsold the iPhone 16 series by 14% in the U.S. and China within its first 10 days of availability, according to data from Counterpoint research. The company is positioned to rally with demand for the latest iPhone generation exceeding expectations, according to Loop Capital. Watch this video to know more.
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