This article first appeared on GuruFocus.

Oct 20 – Apple (NASDAQ:AAPL) rose about 4% on Monday morning after several analysts cited stronger-than-expected demand for the iPhone 17 lineup.

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Loop Capital upgraded the stock to Buy from Hold and lifted its price target to $315 from $226, pointing to material upside from the new iPhone cycle. Evercore ISI also added Apple to its Tactical Outperform list, reaffirming its Outperform rating and $290 target.

Fresh data from Counterpoint Research showed iPhone 17 sales outpacing last year’s iPhone 16 by roughly 14% in the first 10 days of launch across the U.S. and China. The base model has driven much of the growth, with sell-through up nearly one-third from the previous version. In the U.S., the iPhone 17 Pro Max remains the top seller, boosted by aggressive carrier subsidies from AT&T (NYSE:T), Verizon (NYSE:VZ) and T-Mobile (NASDAQ:TMUS).

Counterpoint said U.S. carriers are using extended financing plans to secure higher-value customers. The iPhone Air, unveiled last month, also gained traction, with reports from China suggesting it sold out shortly after launch.

Apple is scheduled to report quarterly earnings on Oct. 30. Analysts expect earnings of $1.76 per share on revenue of about $101.7 billion.