Cramer Boosts Apple Stock: 'Duo is AMAZING', Not Smart Home Device
Investor Jim Cramer is recommending that investors buy Apple stock due to its impressive new iPhone Duo, not because of its upcoming smart home device. Speaking on X, Cramer said 'Buy the stock of Apple because of the DUO, not smart home... Duo is AMAZING.' The iPhone Duo will be priced at $1,999 and becomes available in the US on October 23, with pre-orders opening on October 16.
The recommendation from Cramer comes after Bloomberg columnist Mark Gurman reported about a major product announcement from Apple scheduled for October 13. The tech giant is reportedly preparing to introduce a new smart-home device, code-named J490, which features a roughly 6-inch square display and recognizes users by their voice.
Apple's planned smart home ambitions have been a topic of discussion in the industry, with the company struggling to compete with Amazon and Google. The launch also gives Apple a chance to show progress in artificial intelligence after repeatedly delaying its upgraded Siri assistant.