Cramer Says Buy Apple Stock for iPhone Duo's 'AMAZING' Potential

Jim Cramer, a well-known financial expert, has urged investors to buy Apple stock due to its 'AMAZING' iPhone Duo. The device is priced at $1,999 and will be available in the U.S. on October 23, with pre-orders opening on October 16.

Cramer's comments came after a report from Bloomberg columnist Mark Gurman about Apple's upcoming product announcement on October 13. This event is expected to highlight Apple's smart home ambitions, including a new device code-named J490 that features a roughly 6-inch square display and voice recognition capabilities.

However, Cramer emphasized that investors should focus on the iPhone Duo, not Apple's smart home devices. He believes that this device will drive the company's stock price higher. Apple's shares gained 1.1% during regular hours and reached $334.25 in after-hours trading, up 0.37%, following Cramer's comments.

Apple has been struggling to compete with Amazon and Google in smart home technology. The launch of its new device will give the company a chance to show progress in artificial intelligence and improve its Siri AI assistant, which has been delayed repeatedly.