On Oct. 16, 2026, preorders for the new iPhone Duo sold out quickly, stretching delivery estimates into January.
16, 2026, preorders for the new iPhone Duo sold out quickly, stretching delivery estimates into January.
$343.46+$1.46 (+0.43%)
NASDAQ · As of 4:00 PM ET 10/16/26
Apple (AAPL +0.43%), a consumer electronics and personal computing hardware provider, closed at $343.46, up 0.43%. The stock edged higher after reports that iPhone Duo preorders sold out quickly, and investors are watching the November 2 earnings call for guidance and demand updates.
Trading volume reached 59 million shares, coming in about 31% above its three-month average of 45 million shares.
How the markets moved today
S&P 500 (SNPINDEX: ^GSPC) closed at 7,659, down 1.09%, while Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 26,140, down 2.14%. Among consumer electronics and personal computing hardware peers, Microsoft (MSFT -1.93%) closed at $529.05, down 1.93%, and Alphabet (GOOGL -2.47%) closed at $340.59, down 2.47%, as investors kept focus on AI-debt pressure and semiconductor weakness.
What this means for investors
Apple shares rose on Friday, Oct. 16, when pre-orders for its new iPhone Duo sold out within minutes in the morning. The Duo is the company's first foldable smartphone. It includes a 5.4-inch front display with a 7.6-inch foldable inner screen. Delivery dates quickly shifted from Oct. 23 into late January.
The strong demand for Apple's latest device propelled its stock back toward the 52-week high of $348.15 reached earlier in the week. In the company's 2026 third quarter, ended June 27, Apple posted record performance as revenue reached $109.4 billion, which represented a 16% year-over-year increase. The iPhone maker beat Wall Street expectations on revenue and profit, but investors focused on strong iPhone 17 demand and a softer near-term outlook that later weighed on sentiment.
Averytin News Financial update.