Key Takeaways
- CNBC’s Jim Cramer advised purchasing Apple stock specifically due to the iPhone Duo foldable device, dismissing the smart home hub as irrelevant to his recommendation.
- Apple’s foldable iPhone Duo carries a $1,999 price tag, with pre-orders launching October 16 and retail availability beginning October 23.
- Shares of Apple gained 1% in regular session trading and extended gains in after-hours to reach $334.25.
- Industry analysts at Counterpoint Research project approximately 6 million iPhone Duo sales during 2026.
- A dedicated Apple event is scheduled for October 13 to introduce a display-equipped smart home hub device.
Jim Cramer is urging investors to purchase Apple stock. However, his reasoning may surprise many market watchers.
In a Wednesday post on X, the CNBC personality declared that investors should acquire Apple shares due to the iPhone Duo. He described the foldable smartphone as “amazing.” Cramer emphasized that his bullish stance is unrelated to Apple’s other major product scheduled for later this month.
During Wednesday’s regular trading session, Apple stock finished 1% higher. The shares continued climbing in extended trading, touching $334.25, representing a 0.37% increase per Benzinga Pro.
The iPhone Duo debuts with a $1,999 base price. Customers can place pre-orders beginning October 16, while US retail availability starts October 23.
The television host’s statements came after Bloomberg journalist Mark Gurman published a report. According to Gurman, Apple plans to unveil a different product on October 13. This upcoming device is described as a smart home hub featuring an integrated display.
Smart Home Hub Details Emerge
Sources indicate the hub carries the internal code name J490. The device is anticipated to feature a display measuring approximately 6 inches across in a square format.
According to reports, the hub will identify users through voice recognition. This capability would enable the device to provide customized responses depending on which family member is speaking.
Additionally, Apple is preparing upgrades for the HomePod mini and Apple TV. Both products will reportedly receive an enhanced Siri assistant during this product cycle.
The HomePod mini will purportedly arrive in fresh color options, including green and pink variants. Cramer explicitly stated his investment advice centers on the Duo foldable, not the smart home product line.
For years, Apple has trailed behind Amazon.com and Alphabet’s Google in smart home market penetration. The October 13 announcement offers Apple an opportunity to prove its competitive viability.
The event also provides Apple a platform to showcase artificial intelligence advancements. The company has postponed its enhanced Siri assistant launch several times previously.
Market Projections for New Product Lineup
Research firm Counterpoint estimates Apple may move roughly 6 million iPhone Duo devices throughout 2026. This represents significant volume for a premium device approaching $2,000.
Additional positive indicators are emerging from other markets. Initial seven-day iPhone 18 Pro sales in China increased 12% compared to the previous year.
During the tracked timeframe, Apple secured 33% of Chinese smartphone purchases. Industry observers interpret this as evidence consumers remain willing to invest in premium-tier devices.
Apple’s most recent quarterly earnings per share totaled $2.02. This figure exceeded analyst consensus expectations of $1.89.
Quarterly revenue hit $109.42 billion, reflecting 16.4% growth versus the comparable year-ago period. The technology giant also announced a $0.27 quarterly dividend per share, distributed in August.
Apple has encountered some challenges recently. The company addressed a zero-day security flaw allegedly exploited in campaigns targeting cryptocurrency wallets on iPhones.
A United Kingdom class-action lawsuit concerning App Store marketplace practices was granted permission to advance. Apple declined to provide commentary regarding Cramer’s statements.
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