Jim Cramer made an early morning appearance at Apple’s flagship 5th Avenue store in New York City on Friday to mark the official release of the iPhone 18 models. Writing for CNBC Investing Club, he reported that while there were noticeable crowds, customers were not lining up overnight—a trend he attributed to the fact that pre-orders for the new foldable iPhone Duo will not begin until October 16, with availability arriving a week later.
During his visit, Cramer mentioned that he personally picked up an iPhone 18 unit, citing its extended battery life and improved camera capabilities as key selling points. He also indicated his intention to upgrade to the iPhone Duo.
Cramer engaged with Apple CEO John Ternus, who was present at the store, regarding supply constraints for the upcoming Duo device. Ternus expressed confidence that Apple would have sufficient inventory, though Cramer acknowledged that immediate availability for consumers might still be challenging.
On the markets front, Cramer noted that oil prices and bond yields rose, leading to a decline in stocks, consistent with the ongoing uncertainty surrounding crude supply due to the war in Iran and Middle East skirmishes. The S&P 500 appeared set for back-to-back negative weeks, following a modest bounce after the Federal Reserve’s recent rate hike.
Despite the market weakness, Cramer suggested that the market is oversold based on the S&P Short Range Oscillator and recommended adding positions in Kimberly-Clark and BNY Mellon. In a rapid-fire segment covering other stocks, he addressed Meta Platforms, Costco, Berkshire Hathaway, Netflix, Tyson Foods, and Nucor.
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