iPhone Duo Preorders, AAPL Crosses $5 Trillion and More: This Week in Appleverse
Apple dominates headlines as iPhone Duo preorders surge, shares rise, market value tops $5 trillion and China AI launch plans emerge.
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Apple dominates headlines as iPhone Duo preorders surge, shares rise, market value tops $5 trillion and China AI launch plans emerge.
Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
Major tech indices declined on October 16, 2026, as AI-focused software stocks experienced a sharp reversal. The S&P 500 fell 1.07%, the Nasdaq Composite plummeted 2.15%, and the Dow Jones slipped 0.34%. Goldman Sachs reported that hedge funds sold AI stocks at the second-fastest pace in over a year, triggering a tactical rotation away from smaller AI names toward larger, steadier companies and defensive stocks.
Apple stock rose 0.43% to $343.46 on October 16, 2026, following strong demand for its new iPhone Duo foldable smartphone, which sold out within minutes with delivery dates pushed to late January. The broader market declined, with the S&P 500 down 1.09% and Nasdaq down 2.14%, as investors focused on AI-related debt pressure and semiconductor weakness.
Deutsche Bank analyst Bernard von-Gizycki initiates coverage on Columbia Banking System (NASDAQ:COLB) with a Hold rating and announces Price Target of $32.
A securities class action lawsuit has been filed against Duolingo for investors who purchased stock between May 2, 2025 and February 26, 2026. The complaint alleges the company made false and misleading statements about the negative impact of increased ad volume, subscription upsells, and AI-generated content on daily active user growth. Duolingo's stock dropped significantly following disappointing financial results and the CFO's departure, with declines of 25%, 8.5%, and 14% on three separate dates.