Apple Inc (AAPL) Cramer: New iPhones are a Breakthrough for Apple

NASDAQ: AAPL | Apple Inc. News, Ratings, and Charts

AAPL – The “Mad Money” host commends Apple’s new line of technological upgrades.

Apple Inc (NASDAQ:AAPLshares are up after a positive reception to its new iPhone XS and Apple Watch models.

CNBC’s Jim Cramer described the new line of consumer-tech products as a big upgrade from last year. The tech giant introduced its new iPhone XS and iPhone XS Max models, in addition to the iPhone XR, an enhancement from the iPhone 8 that will start at a lower price from the other devices.

CNBC provides quotes from the “Mad Money” hosts optimistic analysis:

“I found this one to be a breakthrough,” said Cramer, whose charitable trust owns shares of Apple. Cramer said he was particularly impressed with the new Apple Watch, which was also unveiled Wednesday and boasts a 30 percent larger screen. “It was amazing” and “monumental,” Cramer said on “Squawk on the Street.”

Meanwhile, Goldman Sachs decreased its earning forecasts for Apple after its new product exhibition Wednesday. Goldman Sachs supported its contrarian stance by pointing to the lower prices of the iPhone XR, which it believes will lessen the appeal of the iPhone 8 and 8+.

Apple Inc, shares rose $0.29 (+0.13%) in after-hours trading Thursday. Year-to-date, Apple Inc. (AAPL - Get Rating) has gained 35.32%, versus a 9.91% rise in the benchmark S&P 500 index during the same period.

Apple Inc. (AAPL - Get Rating) currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 28 stocks in the Technology – Hardware category.

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