Robert Izquierdo, The Motley Fool Fri, October 16, 2026 at 5:49 PM EDT 2 min read AAPL +0.43% MSFT -1.93% GOOG -2.32% ^IXIC -2.14% ^GSPC -1.09% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Apple (NASDAQ:AAPL), 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.
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 (NASDAQ:MSFT) closed at $529.05, down 1.93%, and Alphabet (NASDAQ:GOOGL) closed at $340.59, down 2.47%, as investors kept focus on AI-debt pressure and semiconductor weakness.
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.
With the Duo's preliminary success, Apple could see strong 2027 sales results. The question is how much of a headwind macroeconomic conditions, such as persistent inflation and rising interest rates, will be for the tech giant.
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Robert Izquierdo has positions in Alphabet, Apple, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Apple, and Microsoft. The Motley Fool has a disclosure policy.
Stock Market Today, Oct. 16: Apple Edges Higher on iPhone Duo Preorder Surge was originally published by The Motley Fool
