Apple’s revenue growth accelerated in the recent quarter, driven by strong demand for the iPhone 17. The high-margin services business also saw double-digit growth. Shares have rallied to record highs above $260, reflecting investor confidence in the company’s performance and product lineup.

Apple’s recent financial results show positive trends, with revenue increasing 10% year over year in the third quarter. iPhone sales rose by 13%, while services revenue hit a record $27.4 billion. The company’s profitability improved, with earnings per share rising by 12% and a total gross margin of 46.5%.

The tech giant closed the quarter with a strong cash position of $133 billion and $92 billion in term debt. This financial strength allows Apple to continue investing in growth opportunities, including a new $100 billion share repurchase program and increased dividend. The company’s commitment to investing in the U.S. economy also bodes well for future growth.

Research indicates strong demand for the new iPhone 17 lineup, suggesting a potential return to double-digit growth in iPhone sales. Analysts are optimistic about Apple’s stock, citing the new iPhone features and attractive pricing. While the stock isn’t cheap, its valuation is reasonable given the company’s growth prospects and margin expansion.

Investors considering Apple should weigh the positive momentum in revenue growth and the potential for a successful iPhone 17 cycle. The company’s services segment is a key driver of future profitability. While risks like tariffs and market conditions exist, Apple’s overall outlook remains positive for long-term investors.

Read more at Nasdaq: Apple Stock Soars — Why It Can Go Higher