Apple hits record on iPhone Duo demand, but Wall Street warns on profit limits

Apple shares hit a record high on strong demand for its first foldable iPhone, the Duo, though analysts warn production constraints could limit profit gains. The stock touched $351.73 before closing at $347.73. The $1,999 iPhone Duo, launched October 23, sold out its initial inventory with some delivery dates extending into January. Apple reportedly asked suppliers to increase orders by 30%, but long wait times, rising component costs, and high valuation have split Wall Street on earnings impact. JPMorgan noted supply ramp challenges behind delays, while Loop Capital downgraded Apple to Hold, citing weaker deliveries and higher memory costs. Apple reports fiscal fourth-quarter results on November 2, with investors focused on iPhone 18 demand and foldable production scaling.