Cramer Buys Apple Duo Call Ahead of Foldable Phone Release

Jim Cramer has urged investors to buy Apple (AAPL) ahead of the release of its new foldable iPhone, the Duo. In a post on X, he praised the device as 'AMAZING' and stated that it's the reason to invest in AAPL.

Cramer has given both Apple and NVIDIA (NVDA) his highest rating: 'own it, don't trade it.' He believes that the Duo will drive growth for Apple, but notes that shares are already near their 52-week high with a P/E of 43.

The Duo starts at $1,999 and is set to release on October 23. This price point may be a concern, as supply constraints and memory-driven price hikes could limit the device's volumes.