Apple shares fell on Monday, pulling back from last week's record high. Cautious analyst commentary and rising memory costs outweighed strong early demand for the company's first foldable iPhone.

Apple shares fell $3.05, or 0.88%, to $344.67 in early trading on the Nasdaq at 10:14 a.m. EDT. The decline came even as the broader market rose, which suggests the selling was tied to Apple specifically.

The stock hit an all-time intraday high of $351.73 on Friday before closing at $347.72.

Apple's new iPhone Duo, a $1,999 foldable phone, went on sale Oct. 23 and sold through its initial supplies. Delivery estimates for some models stretch into January.

Taiwan's Economic Daily reported that Apple had asked suppliers to increase production orders for the device by about 30%. Other reports said Apple raised its 12-month production target to about 14 million units from 9.7 million. Apple has not confirmed........

© International Business Times