Key Takeaways
- CNBC’s Jim Cramer recommended purchasing Apple stock specifically due to the iPhone Duo foldable device, dismissing the company’s smart home product launch.
- The foldable iPhone Duo starts at $1,999, with pre-order availability beginning October 16 and retail launch on October 23.
- Shares of Apple increased 1% in standard trading and continued climbing after hours to reach $334.25.
- Industry analysts at Counterpoint Research project approximately 6 million iPhone Duo sales throughout 2026.
- A standalone Apple event scheduled for October 13 will introduce a smart home device featuring an integrated display.
CNBC’s Jim Cramer is urging viewers to purchase Apple stockāthough his reasoning may surprise many observers.
In a Wednesday post on X, the financial commentator emphasized that investors should focus on the iPhone Duo when considering Apple. He described the foldable smartphone as “amazing” and explicitly stated his recommendation isn’t connected to the company’s other major product release planned for later in October.
Apple shares finished Wednesday’s regular session with a 1% increase. The stock continued its upward trajectory during extended trading, climbing to $334.25āa 0.37% gain based on data from Benzinga Pro.
The iPhone Duo’s base configuration retails for $1,999. Customers can begin placing pre-orders on October 16, followed by official availability across US stores starting October 23.
Cramer’s remarks came shortly after Bloomberg journalist Mark Gurman published a report detailing Apple’s plans. According to Gurman, the tech giant will host a dedicated product reveal on October 13 focused on a smart home control hub equipped with an embedded screen.
Details Emerging About Apple’s Smart Home Hub
Internal documentation reportedly refers to this hub using the code name J490. The product is anticipated to feature a display measuring approximately 6 inches in diagonal size with a square form factor.
According to reports, the hub will incorporate voice-based user identification technology. This capability would enable the device to tailor its interactions and information delivery depending on which household member is issuing commands.
Alongside the hub, Apple intends to unveil enhancements to both the HomePod mini and Apple TV platforms. Each product line will reportedly receive the company’s revamped Siri voice assistant functionality.
The updated HomePod mini is expected to launch in additional color options, potentially including green and pink variants. Cramer made it clear his investment advice centers exclusively on the Duo smartphone rather than these smart home initiatives.
For years, Apple has trailed competitors including Amazon.com and Alphabet’s Google division in smart home market penetration. The upcoming October 13 presentation represents an opportunity for Apple to establish stronger competitive positioning.
The event will also showcase Apple’s artificial intelligence advancements. The company has postponed its enhanced Siri assistant multiple times, making this reveal particularly significant.
Market Projections for Apple’s New Hardware
Research firm Counterpoint estimates iPhone Duo sales could reach approximately 6 million units during calendar year 2026. This represents substantial volume for a premium device with a nearly $2,000 entry price.
Additional positive indicators have emerged from other product lines. Initial seven-day sales figures for the iPhone 18 Pro within China showed a 12% year-over-year increase.
During that measurement window, Apple secured 33% of total smartphone transactions in the Chinese market. Industry analysts interpret this data as evidence consumers remain willing to invest in premium-tier models.
Apple’s most recent quarterly earnings per share registered at $2.02, surpassing analyst consensus projections of $1.89.
Quarterly revenue totaled $109.42 billion, representing a 16.4% increase compared to the equivalent period one year prior. The company also announced a $0.27 per share quarterly dividend distribution, which was paid to shareholders in August.
Apple has faced certain challenges in recent months. The company recently addressed a zero-day security flaw that was allegedly exploited in targeted attacks against cryptocurrency wallet users on iPhone devices.
Additionally, a United Kingdom class-action lawsuit concerning App Store marketplace practices received approval to move forward. Apple has not issued any statement responding to Cramer’s investment recommendation.
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