Apple Inc. (AAPL  ) shares got a boost on Friday after which Wedbush Securities analyst Dan Ives raised his price target to $310, citing strong early demand for the iPhone 17 lineup.

Apple shares rose 3.2% on Friday to $245.50, extending their one-month gain to 7.79%, according to Benzinga Pro.

Ives Raises Price Target On Strong iPhone 17 Cycle

Over the weekend, Ives said the launch of Apple's latest flagship devices is exceeding expectations, with demand trends already outpacing last year's cycle.

"Raising price target on Apple to $310 based on the early strong demand signs coming out of the iPhone 17 cycle," Ives wrote on X, formerly Twitter. "With iPhone 17 officially going on sale we are positively surprised on the demand trajectory...units appear to be tracking 10%-15% ahead of iPhone 16 thus far."

iPhone 17 Sparks Global Demand Surge

The iPhone 17 series has seen strong consumer turnout in China and India. In China, the Pro Max model, starting at 9,999 yuan ($1,406), has quickly emerged as the top seller.

In Beijing, roughly 300 customers lined up outside Apple's flagship store on launch day.

Buyers highlighted the larger 6.3-inch display with 120Hz ProMotion, new orange colorway, longer battery life, and the 256GB base storage option as key selling points.

India also witnessed large crowds in Mumbai and Delhi, with Apple's retail partners offering cashback, trade-in discounts and bundled deals to drive sales.

Analysts See Market Share Rebound In China

Apple has struggled in China amid pressure from rivals Huawei Technologies and Xiaomi (XIACF  ), but analysts say the iPhone 17 could deliver a year-end lift.

JPMorgan's Samik Chatterjee noted demand is "tracking modestly ahead" of iPhone 16, while Omdia senior analyst Chiew Le Xuan projected an 11% rise in shipments in China for the second half of 2025, contributing to 5% full-year growth.

Bank of America Securities also raised its price target to $270, citing Apple's strength in international markets and ongoing AI integration.

Apple's Hardware-First Strategy

Despite lagging competitors in AI features, Apple has leaned on design and engineering upgrades to reignite enthusiasm.

Bloomberg's Mark Gurman reported that, unlike the iPhone 16, which underwhelmed, the iPhone 17 Pro and Pro Max have impressed with enhanced durability, camera upgrades, and performance improvements.