Cramer Sees Foldable Duo as Catalyst for Apple Growth

Jim Cramer has recommended buying Apple shares before its new foldable phone, called Duo, hits stores on October 23. The Duo starts at $1,999 and is considered 'AMAZING' by Cramer.

In a post on X, Cramer said that the Duo's success will drive Apple's growth, citing the company's two revenue engines: hardware sales and recurring Services. He believes that the Duo will be additive to the Apple ecosystem, allowing users to carry both a foldable and a Pro phone.

However, some analysts have raised concerns about supply constraints, memory costs, and competition from other companies. Apple has already guided revenue growth of 9% to 11% in the September quarter, but investors are paying a premium for continued growth with a P/E near 43 and a market cap around $4.93 trillion.

Cramer's previous predictions on Apple have been mixed, as he initially said that the iPhone 18 would not rally the stock before changing his mind. The stock has risen to a 52-week high of $341.07, despite Cramer's initial skepticism.