Jim Cramer Urges Apple (AAPL) Buy on $1,999 Foldable iPhone Duo Strength

TLDR

• CNBC’s Jim Cramer issued a buy recommendation for Apple stock, citing the foldable iPhone Duo rather than the company’s forthcoming smart home product.
• The foldable iPhone Duo starts at $1,999, with pre-orders launching October 16 and retail availability beginning October 23.
• Apple shares gained 1% in standard trading and climbed further after hours to reach $334.25.
• Industry analysts at Counterpoint Research project approximately 6 million iPhone Duo units could be sold in 2026.
• A separate Apple event scheduled for October 13 will introduce a new smart home hub featuring an integrated display.

Jim Cramer has issued a buy recommendation for Apple stock. However, his reasoning might surprise market watchers.

The prominent CNBC personality took to X on Wednesday, urging followers to purchase Apple shares due to the iPhone Duo. He praised the foldable smartphone as “amazing.” Cramer emphasized that his bullish stance is unrelated to the tech giant’s other major product scheduled for release later this month.

Apple shares finished Wednesday’s regular session with a 1% increase. The stock continued its upward momentum during extended trading, climbing to $334.25, representing a 0.37% rise per data from Benzinga Pro.

Apple Inc., AAPL

The foldable iPhone Duo comes with a $1,999 base price tag. Customers can begin placing pre-orders on October 16, with physical availability in American stores starting October 23.

Cramer’s statement came on the heels of reporting by Bloomberg’s Mark Gurman. Gurman revealed that Apple intends to introduce an entirely different product on October 13. This upcoming gadget is a smart home control center featuring an embedded screen.

Details Emerging About the Smart Home Product

According to reports, the hub carries the internal designation J490. The device is anticipated to sport approximately a 6-inch square screen.

The system will allegedly identify users through voice analysis. This capability would enable it to provide customized answers depending on which household member is speaking.

Additionally, Apple is preparing enhancements for both the HomePod mini and Apple TV. These products will receive an upgraded Siri virtual assistant as part of the broader update.

The refreshed HomePod mini will allegedly arrive in additional color options, such as green and pink. Cramer made it clear that his investment advice centers exclusively on the Duo, not the smart home initiative.

For years, Apple has trailed behind Amazon.com and Alphabet’s Google in the smart home marketplace. The October 13 presentation represents an opportunity for the company to prove its competitive capabilities.

The event also allows Apple to showcase advancements in artificial intelligence. The corporation has postponed its enhanced Siri assistant on several occasions previously.

Market Response Indicators for New Releases

Research firm Counterpoint estimates that Apple may move approximately 6 million iPhone Duo units during 2026. This represents substantial demand for a device with a price point approaching $2,000.

Additional positive indicators have emerged from other markets. Opening week sales of the iPhone 18 Pro in China increased 12% compared to the previous year.

Apple secured 33% of Chinese smartphone sales during this tracking window. Market watchers interpret this as evidence that consumers are prepared to invest in premium-tier devices.

The company’s most recent quarterly earnings per share reached $2.02. This exceeded analyst consensus projections of $1.89.

Quarterly revenue totaled $109.42 billion, marking a 16.4% increase over the comparable period from the prior year. The corporation also announced a $0.27 per share quarterly dividend, distributed in August.

Apple has faced certain challenges recently. The company addressed a zero-day security flaw allegedly exploited in cyberattacks aimed at iPhone cryptocurrency wallets.

A class-action lawsuit in the United Kingdom concerning App Store monopoly allegations was permitted to move forward. Apple has not issued any statement regarding Cramer’s investment recommendation.

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