US Stock Market Move | Apple Inc. (AAPL.US) rose nearly 2% on strong demand for iPhone 17 pre-orders.

On Tuesday, Apple Inc. (AAPL.US) rose by nearly 2%, reaching $240.90. According to pre-order data tracked by Goldman Sachs Group, Inc. on Apple.com, delivery times for all models of iPhone 17 worldwide are longer than previous models, with the standard version and Pro Max models experiencing the greatest increase of 8 days. The Chinese mainland market performed particularly well, with an average increase in delivery time of 17 days, resulting in a 27-day wait period. Analysts previously reported that planned production volumes for the iPhone 17 standard version, Pro, and Pro Max models have increased by 25% compared to the previous year, while production of the iPhone Air is three times that of the iPhone 16 Plus. Despite the increase in production volume, delivery times are still extending, indicating strong pre-order demand. Goldman Sachs Group, Inc. stated in their research report that strong pre-order demand signals support their expectation of an 8% increase in iPhone revenue for Apple Inc.'s fourth quarter. Additionally, due to Apple Inc.'s channel inventory being at the lower end of the target range at the end of the third quarter, channel restocking will further drive performance growth.