Apple shares closed at a record high of $338.98 after investors responded to improved Siri AI and attention on the iPhone Duo. In May 2026, shares twice hit record highs, surpassing $300. Since then, John Ternus took over as CEO from Tim Cook, and Apple launched new hardware and software.

The stock broke the previous record close of $338.49. AAPL's growth is notable amid criticism that Apple is behind in AI. The iPhone Duo answers foldable market doubts, positioning Apple as best despite its price and pre-shipment status. iOS 27 with Siri AI has shifted perceptions from behind to level or ahead.

Investors see Apple's cautious AI approach as attractive amid unease over over-extended firms like OpenAI, which is losing $1.25 per $1 earned and won't IPO this year.

Investors will gauge iPhone Duo success via pre-orders on October 16, 2026, and in stores October 23. Analysts note slow iPhone 18 Pro orders. Apple's next earnings report is expected at the end of October 2026.