Apple Stock Hits Record High as Company Boosts iPhone Duo Supply Orders

Apple Inc. (AAPL) stock reached an all-time intraday high of $348.15 on Tuesday before closing slightly higher at $341.27, bringing its year-to-date gain to 25.9%. The move comes alongside announcements for new home products and reports that the company is expanding supply chain orders for its upcoming foldable smartphone, the iPhone Duo, by 30%. Initial supply estimates have increased from 6 to 7 million units to nearly 10 million units after demand was previously underestimated.

The increased production for the foldable device follows recent cuts of 15% to 20% in component orders for the iPhone 18 Pro and Pro Max. As the iPhone Duo represents Apple's entry into the foldable smartphone market, strong initial demand will indicate whether consumers are adopting the new technology. However, rising component costs could weigh on quarterly profit margins, as Apple has absorbed a portion of these cost increases while passing the rest on to buyers.

Investors will get a clearer picture of consumer appetite when preorders for the iPhone Duo begin on Oct. 16. Upcoming quarterly results will also reveal how higher production and component expenses impact overall profit margins.