On Wednesday, Jim Cramer asked investors to buy Apple Inc. (NASDAQ:AAPL) for its “AMAZING” iPhone Duo. Cupertino shares gained 1.1% during regular hours, then reached $334.25 in after-hours trading, up 0.37%, according to Benzinga Pro.
Cramer Urges Investors to Buy Apple Stock
Taking to X, Cramer said, “Buy the stock of Apple because of the DUO, not smart home… Duo is AMAZING.”
Priced at 1,999, iPhone Duo will become available in the U.S. on Oct. 23, with pre-orders opening on Oct. 16.
His comments came after Bloomberg columnist Mark Gurman reported about a major product announcement on Oct. 13.
Apple’s Oct. 13 Launch to Spotlight Smart Home Ambitions
Cupertino is reportedly preparing to introduce a new smart-home device, code-named J490. It is expected to feature a roughly 6-inch square display.
The hub also recognizes users by their voice. It also enables users to deliver personalized information and tailored responses based on individual accounts.
The tech giant is also planning to update its HomePod mini and Apple TV with a revamped Siri AI assistant.
The former will reportedly come in new colors, including green and pink.
Siri AI Could Be Apple’s Biggest Smart Home Bet
Apple has struggled to compete with Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google in smart home technology.
The launch also gives Apple a chance to show progress in artificial intelligence after repeatedly delaying its upgraded Siri assistant.
Apple did not immediately respond to Benzinga’s request for comment.
According to Benzinga Edge Stock Rankings, Apple ranks in the 97th percentile for Quality, with positive short-, medium- and long-term price trends.
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