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Apple shares closed at $343.46 on Friday, up 0.43%, after preorders for the company's first foldable smartphone, the iPhone Duo, sold out within minutes of opening.
The stock moved closer to its 52-week high of $348.15, which it reached earlier in the week, as investors reacted to the immediate demand for the new device.
The iPhone Duo features a 5.4-inch front display and a 7.6-inch foldable inner screen. Delivery dates for the device shifted from October 23 into late January following the rapid sales.
Apple's stock had previously weighed on sentiment due to a softer near-term outlook, despite beating Wall Street expectations in its most recent quarter.
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