• Apple shares surged over 5%, marking the biggest single-day jump since August, as investors cheered strong services growth and optimistic guidance.
  • The rally was fueled by robust iPhone demand and expanding services revenue, with analysts highlighting Apple's resilient ecosystem.
  • The move lifted tech indices and sparked a broader risk-on tone, underscoring Apple's influence on market sentiment.

Apple Inc. posted its sharpest one-day gain in months, with shares climbing more than 5% on Tuesday, according to market data. The jump, the largest since August, propelled the stock to its highest level in weeks, driven by a confluence of factors including stronger-than-expected services revenue and bullish signals from Apple's supply chain.

“Apple’s services segment continues to be a cash cow, and the latest data points suggest accelerating momentum,” said a portfolio manager at a large asset manager, who asked not to be identified discussing private views. “That’s giving investors confidence that the growth story is intact.”

The rally extended gains from earlier in the week, pushing Apple's market capitalization above $3 trillion. The move also lifted the broader tech sector, with the Nasdaq Composite rising 1.8% on the day.

Analysts pointed to recent checks with component suppliers indicating healthy iPhone 16 orders, particularly in China and India. Meanwhile, App Store revenue and subscription sign-ups have exceeded internal forecasts, according to people familiar with the matter.

“Apple is firing on all cylinders—hardware and services,” wrote analysts at a major investment bank in a note to clients. “We see room for further upside as the company navigates a mixed macro environment.”

The rally also comes amid a broader rotation back into mega-cap growth stocks, as Treasury yields ease on expectations of slower rate hikes. Apple's gain contributed to a nearly 2% rise in the S&P 500 information technology sector.

Apple did not respond to a request for comment.

Correction: An earlier version of this article misstated the date of Apple's previous biggest gain. It was August, not July.