Jim Cramer Urges Buying Apple Ahead of Foldable iPhone Duo Launch

CNBC host Jim Cramer on Oct. 2 urged investors to buy Apple (AAPL) shares on any dip ahead of the company's first foldable iPhone launch, calling Wall Street's focus on near-term supply constraints misguided. Apple shares fell about 1% to roughly $329 on Oct. 2 and are down more than 4% from a 52-week high of $345.34 reached Sept. 22. Morgan Stanley lowered its Apple price target by $5 to $355 while maintaining a buy-equivalent rating. The firm said weaker-than-expected iPhone selling prices and higher memory costs offset modest revenue gains, leaving EPS forecasts for fiscal 2027 and 2028 essentially flat. Apple unveiled the iPhone Duo at its Sept. 9 event. Preorders open Oct. 16, with availability Oct. 23 at an entry price of $1,999. Cramer noted the device appeared only five times in Morgan Stanley's note and argued it will drive the stock. The launch is the first under CEO John Ternus, who took over Sept. 1. Cramer's Charitable Trust holds Apple shares.