Apple shares rise as Cramer backs iPhone Duo ahead of foldable launch

  • Jim Cramer urged investors to buy Apple shares because of the iPhone Duo, not its smart-home initiative.
  • The $1,999 foldable iPhone Duo has pre-orders starting Oct. 16 and U.S. availability beginning Oct. 23, with roughly 6 million 2026 sales projected.
  • Apple plans an Oct. 13 smart-home event featuring a display-equipped hub code-named J490 and upgraded Siri-related products.

Apple shares rose after Jim Cramer urged investors to buy the stock because of the foldable iPhone Duo rather than the company’s smart-home plans. The Duo starts at $1,999, with pre-orders scheduled for Oct. 16 and U.S. retail availability beginning Oct. 23. Counterpoint Research estimates Apple could sell roughly 6 million units in 2026, potentially making the launch a significant development in the still-young foldable-phone market. Apple is separately scheduled to unveil a display-equipped smart-home hub on Oct. 13, alongside updates to Siri, Apple TV and HomePod mini. Shares gained 1% in regular trading and later reached $334.25, up 0.37%, according to Benzinga Pro, while other reports cited different gains for earlier or regular trading periods. Apple’s latest quarterly earnings included per-share earnings of $2.02, revenue of $109.42 billion and a $0.27 quarterly dividend. The company also faces a zero-day security issue involving cryptocurrency-wallet attacks and a U.K. class-action lawsuit over alleged App Store monopolistic practices.

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