Apple stock hits record high on iPhone Duo demand, but Wall Street warns of limits

Apple's stock hit a record high on strong demand for its first foldable iPhone, the Duo, though analysts warn manufacturing constraints could limit gains. Shares reached $351.73 before closing at $347.73. The $1,999 iPhone Duo, released October 23, sold out in initial shipments with some delivery times 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 opinion on profit impact. Loop Capital downgraded Apple to "Hold" on October 20, citing weak supply chain checks and lowered delivery estimates for 2026 to 8-9 million units. Apple reports fourth-quarter earnings November 2, which won't include Duo sales, so investors will focus on iPhone 18 demand and production guidance.