Apple enjoyed its strongest earnings in years and jumped 12% in August, marking its best monthly performance in over a year. The iPhone maker achieved double-digit growth across key areas, including its fastest revenue hike since 2021. Importantly, sales in Greater China rose 4%, easing worries about Apple’s foothold in that vital market.
iPhone 17 coming soon
All eyes now turn to Apple’s upcoming “Awe Dropping” product launch event in September. The company plans to unveil its iPhone 17 lineup, including the ultra-slim iPhone 17 Air, plus standard and Pro models. The event is also expected to showcase the Apple Watch Series 11, new AirPods Pro, and possibly a foldable iPhone, hinting at what could be Apple’s biggest product leap in over a decade.
“Apple’s August rally is encouraging, but sustained growth will depend on consumer demand for the iPhone 17 lineup,” said Josh Gilbert, Market Analyst at eToro. “Investors will be looking beyond the excitement of new products and towards the strength of Apple’s upgrade cycle.”
August stock surge
Market watchers note that Apple shares often climb into product launches and then cool off afterward. But this year could be different, thanks to the backdrop of a potential U.S. Federal Reserve interest rate cut, which may boost consumer sentiment.
“AI will be a key theme, and investors will want clearer signs of monetization as Apple looks to close the gap with rivals,” Gilbert added. If the iPhone 17 lineup delivers strong demand, especially in growth markets like China and India, it could spark a powerful upgrade cycle.