Apple CEO Tim Cook holds the new iPhone at an Apple special event held at Apple’s headquarters in Cupertino, California on September 9, 2025.
Justin Sullivan | Getty Images
Critics may scoff at the iPhone 17 Pro’s fluorescent orange finish, but apple’s The “Cosmic Orange” smartphone seems to be achieving stellar results in important areas such as sales and market share.
According to Counterpoint Research, the latest iPhone 17 series, which includes the base iPhone 17 and its higher-performance Pro and skinny Air siblings (and, admittedly, comes in colors other than orange), is outselling its predecessor in the U.S. and China. According to the South China Morning Post, the iPhone Air reportedly sold out in China within minutes of its release.
Investors have noticed. Apple’s stock price soared nearly 4% on the news, closing at an all-time high. This should be welcome news for CEO Tim Cook and investors in the stock, which has lagged behind the Magnificent 7 stocks. This gives Apple a year-to-date profit of about 5%. Nvidia’s 36% and 25% meta.
But another member of Mag 7 had an eventful Monday. Amazon’s Amazon Web Services, its cloud division, suffered an outage that took down the following sites: reddit and snapchatmillions of people, including you, are in existential crisis. Still, Amazon stock managed to rise about 1.6%.
US markets also rose broadly, with major indexes ending in the green on Monday. This week, investors will focus on U.S. trade trends with China and earnings reports from the following companies: Netflix, tesla and intel — This combination could make the coming days as colorful as Apple’s latest phones.
What you need to know today
And finally…
Water-cooled servers installed at the Global Switch Docklands data center campus on Monday, June 16, 2025 in London, UK.
Bloomberg | Bloomberg | Getty Images
AI will be a boon for emerging markets, but some investors are not convinced
“AI will change everything in emerging markets,” said Anton Osika, CEO and co-founder of Swedish startup Lovable. Lovable allows others to create apps and websites through prompts, no technical knowledge required.
However, AI does not solve the structural challenges facing emerging markets. Emmett King, managing partner and co-founder of investment firm J12 Ventures, said that means there are still many friction points, including the availability of local funding and confidence that startups can secure a return.
— Tasmin Lockwood
