CUPERTINO, CALIFORNIA : Apple shares climbed 12% in August, marking the iPhone maker’s best monthly performance in over a year following its strongest earnings since 2021. The tech giant reported double-digit growth across key product areas, with sales in Greater China up 4%, easing investor concerns about its competitiveness in one of its most crucial markets.
Apple’s resurgence sets the stage for its much-anticipated “Awe Dropping” product launch event in September, where the company is expected to unveil the iPhone 17 lineup. The range will include the iPhone 17 Air, billed as Apple’s thinnest iPhone ever, alongside the standard and Pro models. The event is also likely to showcase the Apple Watch Series 11, new AirPods Pro, and potentially tease developments around a foldable iPhone signalling what could be the company’s biggest product shift in more than 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.”
Beyond hardware, Apple is expected to highlight AI-powered, on-device features designed to strengthen its ecosystem. While the company has been more cautious than rivals in embracing artificial intelligence, analysts say its focus on privacy-first, device-based AI could become a long-term differentiator.
“The iPhone 17 launch will be critical in determining whether Apple can sustain its momentum,” Gilbert added. “AI will be a key theme, and investors will want clearer signs of monetisation as Apple looks to close the gap with rivals.”
Historically, Apple’s stock has rallied in the run-up to product launches before cooling off afterward. However, this year’s launch coincides with expectations of a potential U.S. Federal Reserve interest rate cut, which could boost consumer sentiment and demand. Analysts note that strong sales in growth markets such as China and India may trigger a robust global upgrade cycle.
Apple continues to benefit from its loyal customer base and the expansion of its services ecosystem, which has provided resilience during periods of slower device sales. With earnings momentum building and anticipation mounting for September’s product showcase, both investors and consumers are watching closely to see if Apple can deliver a breakthrough that reignites long-term growth.