Apple stock hits record high on iPhone Duo, Siri AI
What's the story
Apple's stock price closed at a new record high of $338.98 on Monday, surpassing its previous record close of $338.49. The surge comes after the tech giant's much attention for the iPhone Duo and major improvements to its Siri AI software. The company's slow growth has been a topic of debate, with some critics suggesting that Apple is lagging in AI innovation.
Market response
iPhone Duo and Siri AI boost investor confidence
The launch of the iPhone Duo has silenced critics who claimed Apple was late to join the foldable phone market. The company has now established itself as a leading player in this segment, even though the device hasn't even shipped yet.
Meanwhile, iOS 27 and an updated version of Siri AI have also been launched, further boosting investor confidence in Apple's capabilities in artificial intelligence (AI).
Strategic advantage
Investors await next earnings report at end of October 2026
Apple's cautious approach toward AI development has kept it from taking on massive debt, making it an attractive option for investors wary of overcommitting to companies like OpenAI.
The tech giant's next earnings report is due at the end of October 2026.
Investors are particularly keen to see how well the iPhone Duo performs once pre-orders begin on October 16 and it hits stores on October 23.