Cramer Says Buy AAPL, Calls iPhone Duo “Amazing” as Production Hits 60% Yield

• AAPL stock is in focus as Jim Cramer backs the iPhone Duo, calling Apple’s foldable phone “AMAZING”
• iPhone Duo production reportedly faces challenges, with final assembly yields slightly above 60%
• Apple is preparing for the iPhone Duo launch on October 23, with pre-orders beginning October 16

Jim Cramer is once again issuing a new stock call, urging investors to pay attention towards the AAPL stock. In a recent tweet, Cramer urged investors to purchase the Apple stock because of its new iPhone Duo launch, calling the device “amazing.” Cramer was also quick to issue his reasoning backing his recent AAPL stock call, adding how investors should purchase Apple because of its new foldable phone. In addition to this, Cramer’s bullish Apple stock call has coincided with iPhone Duo production issues, as reports of iPhone Duo facing production problems surfaced ahead of the launch.

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iPhone Duo Faces Production Issues

Per a recent report by the Coin Bureau, iPhone Duo is currently encountering steep production issues. The report shared how the final assembly yield for iPhone Duo units at Foxconn was slightly above 60% as of September 17. The company is currently facing a production hurdle on top of it all, with the production yield sitting just above 60%. Moreover, the manufacturers are struggling to meet Apple’s quality standards, making it difficult in the process.

“Buy the stock of Apple because of the DUO, not smart home… Duo is AMAZING,” Cramer wrote on X. The $1,999 foldable iPhone Duo is scheduled to become available in the U.S. on Oct. 23, with pre-orders beginning Oct. 16. Cramer’s comments came as Bloomberg’s Mark Gurman (@markgurman) reported that Apple is preparing another major product announcement for Oct. 13 focused on the smart home. Apple is reportedly developing a device code-named J490 featuring a roughly 6-inch square display. The hub is expected to recognize individual users by voice and provide personalized information based on their accounts. The company is also reportedly preparing updates to the HomePod mini and Apple TV, alongside a revamped AI-powered Siri assistant.

The news of Apple struggling in its iPhone Duo arena has arrived at a time when Jim Cramer has issued a bullish call for the AAPL stock. Cramer shared how he wants everyone to purchase AAPL stock because of its iPhone Duo, calling the device “Amazing.” Cramer’s call has appeared at a time when Apple is sitting in the middle of fresh speculations regarding a new product announcement. Per Bloomberg’s Mark Gurman, Apple may launch a new smart home device on October 13th, with a 6-inch display sparking fresh discussions.

What Is The Issue All About?

Apple’s iPhone Duo is expected to launch on October 23 in the US. The device is valued at $1,999 but is now encountering major supply concerns. Reports citing sources close to Foxconn shared how final assembly yields were slightly above 60% around mid-September. This indicates that production remains challenging as Apple works to meet its quality standards.

The iPhone Duo is also encountering issues related to its OLED panel yields and hinge components, delaying the supply issues further.

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AAPL Stock Forecast

Despite the hurdles and concerns that the AAPL stock has been encountering as of late, TipRanks currently shows a Moderate Buy consensus for Apple stock forecast based on ratings from 30 Wall Street analysts.

The average 12-month price target for Apple is $1290, while the highest analyst price target is $1541 and the lowest is $943.

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