More people want the new iPhone — and Apple shares

The recent launch of Apple's iPhone 17 series, featuring the controversially vibrant 'Cosmic Orange' variant, is proving to be a significant success in the market. Despite some initial criticism regarding its bold color, sales figures indicate that this latest release is outperforming its predecessor in both the U.S. and China, as reported by Counterpoint Research. In China, the iPhone Air was so popular that it sold out within minutes of its release, according to the South China Morning Post. This surge in demand has caught the attention of investors, leading to a nearly 4% increase in Apple’s stock, which has reached an all-time high. This positive momentum is a welcome change for CEO Tim Cook and investors, especially as Apple’s stock had been lagging behind other tech giants in the 'Magnificent 7'. Year-to-date, Apple has seen a 5% increase, in contrast to Nvidia's impressive 36% and Meta's 25%. Meanwhile, Amazon experienced a setback when its cloud service, Amazon Web Services, suffered an outage that affected major platforms like Reddit and Snapchat, briefly disrupting users' online experiences. Despite this, Amazon's shares still managed a modest rise of about 1.6%. The overall sentiment in U.S. markets was positive on Monday, with major indexes ending the day up by more than 1%. Investors are now looking ahead to key trade developments with China and anticipated earnings reports from notable companies like Netflix, Tesla, and Intel, which could further influence market dynamics. In addition to these developments, the U.S. recently signed a minerals agreement with Australia, involving projects worth up to $8.5 billion aimed at enhancing rare earths processing. The announcement led to a spike in shares of Australian rare earths firms. On the international front, Japan made history with the election of Sanae Takaichi as its first female prime minister, marking a significant political milestone for the country. Her victory followed an agreement between her Liberal Democratic Party and the Japan Innovation Party, paving her path to leadership. Overall, the excitement around the iPhone 17 series and various market developments sets the stage for a dynamic week ahead in both tech and finance.