Jim Cramer said on the September 11 episode of Mad Money that demand for Apple's new Duo foldable iPhone could be "off the charts," calling the stock's run after a solid product introduction "unusually terrific" and saying it still has more to go. The comments came after Apple reported fiscal third-quarter 2026 revenue of $109.4 billion, up 16.4% year-over-year, with diluted earnings per share up around 29% to $2.02. iPhone revenue reached $54.25 billion on double-digit expansion in every geographic segment, Services revenue hit a record $30.74 billion, operating cash flow was $34.4 billion and gross margins reached 50.1%. The iPhone Duo foldable enters a high-growth premium device category and could help expand Apple's active installed base of over 2.5 billion devices, though the company trades at 34.72x forward earnings and faces yield and component bottleneck risks in flexible display panels and custom hinge assemblies, plus memory price pressure and Greater China sensitivity. According to Insider Monkey's tracking of more than 1000 hedge funds, 169 hedge funds held a stake in the company in the second quarter versus 170 in the prior quarter, while the short percent of float sits at 0.96%.
Apple Inc.Apple reported fiscal Q3 2026 revenue of $109.4B (up 16.4%) with EPS up ~29% to $2.02, record Services revenue, and 50.1% gross margins.
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