Jim Cramer has urged investors to buy shares of Apple Inc. (NASDAQ: AAPL), specifically citing the company's upcoming "iPhone Duo" as the primary driver for the stock, rather than the buzz surrounding its smart home ambitions.
In a post on X, Cramer stated, "Buy the stock of Apple because of the DUO, not smart home… Duo is AMAZING." He emphasized that the success of the device is the key reason for the investment recommendation.
The "iPhone Duo" is a foldable device priced at $1,999. Apple has set Oct. 16 for pre-orders and Oct. 23 for the U.S. launch of the product.
Separately, reports indicate Apple is preparing to announce a new smart-home device, code-named J490, on Oct. 13. The hub is expected to feature a roughly 6-inch square display and recognize users by their voice. The company is also reportedly updating its HomePod mini and Apple TV with a revamped Siri AI assistant, which may come in new colors including green and pink.
Apple's stock closed regular trading on Wednesday with a gain of 1.1%. In after-hours trading, the shares reached $334.25, representing an increase of 0.37%.
