Shares of Apple (NASDAQ:AAPL) surged 3.3% after the successful launch of the new iPhone 17 lineup, prompting JPMorgan to raise its price target to $280 from $255. The strong demand for the high-end Pro models led analysts to project iPhone sales of 236 million units in fiscal year 2026, fueling optimism for solid revenue growth. The stock closed at $245.28, up 3.1% from the previous close. Despite only 5 moves greater than 5% in the past year, today’s jump signals the market’s positive reaction to the news.

Following a previous decline after the underwhelming iPhone 17 launch event, Apple’s stock is up 0.6% since the beginning of the year, trading close to its 52-week high of $259.02. Investors who bought $1,000 worth of Apple’s shares 5 years ago would now see an investment worth $2,229.

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