Why Apple Stock Popped Friday Morning

By Danny Vena, CPA – Apr 17, 2026 at 12:51PM ESTKey PointsApple increased iPhone sales in China in Q1, even as overall smartphone sales in the country declined.The company is well-positioned to continue its winning streak in the country. Shares of Apple (AAPL +2.66%) climbed on Friday, adding as much as 3.4%. As of 12:40 p.m. ET, the stock was still up 3.1%. While the cease-fire and the opening of the Strait of Hormuz certainly boosted investor sentiment, news of increasing iPhone sales in China was the catalyst that sent Apple stock higher. Image source: Apple. Taking share While overall smartphone sales in China continued to decline, Apple's iPhone saw its market share increase, according to new data from Counterpoint Research. Shipments of the flagship device increased 20% year over year in the first quarter, despite a 4% decline in overall smartphone shipments. This marked the strongest performance among all the major brands in China, according to the report. After a drought in iPhone sales in 2024, there was a significant rebound late last year. The iPhone saw "staggering demand" that drove record sales as 2025 came to a close, according to Apple CEO Tim Cook. Moreover, the iPhone was the top-selling smartphone brand in China in the final quarter of last year, according to Counterpoint Research. ExpandNASDAQ: AAPLAppleToday's Change(2.66%) $7.00Current Price$270.40Key Data PointsMarket Cap$3.9TDay's Range$266.72 - $272.3052wk Range$189.81 - $288.62Volume37MAvg Vol47MGross Margin47.33%Dividend Yield0.39% Weak smartphone demand in one of Apple's biggest markets has been a concern for investors, but the company has been pressing its advantage. Despite a spike in global memory prices, Apple has held its prices steady even as rivals have raised theirs, allowing the company to gain market share. Counterpoint notes that "Apple is widely viewed as best positioned to navigate the ongoing global memory crunch, supported by its premium product portfolio and strong supply chain management." At 33 times earnings, the stock is selling at a slight premium, but consider this: Apple boasts five of the world's top 10 best-selling smartphones, and 2.5 billion active devices, giving the company unsurpassed reach. Given the company's industry-leading position and unrivaled scale, that premium is justified. That's why Apple stock is a buy.Read NextApr 17, 2026 •By Matt Frankel, CFPS&P 500 Explained: How the Index Works and How to Invest in ItApr 17, 2026 •By Rachel WarrenBest Microchip Stocks to Buy in 2026 and How to Invest in ThemApr 17, 2026 •By Matt Frankel, CFPBest Stocks to Buy Now: Our Buy-and-Hold Picks for April 2026Apr 17, 2026 •By Rachel WarrenBest Blue Chip ETFs to Buy in 2026Apr 17, 2026 •By Kristi WaterworthHow to Invest in Green BondsApr 16, 2026 •By Daniel SparksWhy Apple's Refusal to Aggressively Build Out AI Compute Is Actually a Brilliant Move for InvestorsAbout the AuthorDanny Vena, CPA, is a contributing Motley Fool technology analyst specializing in artificial intelligence, cloud computing, semiconductors, software, cybersecurity, and consumer electronics. He is a Certified Public Accountant and previously worked as a controller and accountant across small and midsize businesses. Danny also served 13 years in the U.S. Army. He holds a bachelor’s degree in accounting from the University of Phoenix.TMFLifeIsGoodX@dannyvenaStocks MentionedAppleNASDAQ: AAPL$270.51(+2.70%)+$7.11*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.