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Jim Cramer praises Apple's new iPhones — these will be a 'breakthrough' for the company

Berkeley Lovelace Jr.
  • Jim Cramer praises Apple's newly unveiled iPhones, calling them much more enticing than last year's models.
  • "I found this one to be a breakthrough," the "Mad Money" host says.
  • Last year, investors panicked about iPhone orders after a report said Apple may be cutting orders.

CNBC's Jim Cramer on Thursday praised Apple AAPL 's newly unveiled iPhones, calling the smartphones much more enticing than the models released last year.

"I found this one to be a breakthrough," said Cramer, whose charitable trust owns shares of Apple.

Apple showcased the iPhone XS and iPhone XS Max at its event in Cupertino, California, on Wednesday. It also introduced a third model — the iPhone XR — which will be an upgrade from last year's iPhone 8 and start at a lower price point than the other models.

Cramer, host of " Mad Money ," 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 ."

Shares of Apple were more than 2 percent higher midmorning Thursday. The stock is up 31 percent year to date through Wednesday.

Last year, investors panicked about iPhone orders after a report from a Taiwan-based newspaper, The Economic Times, said the consumer tech giant may be cutting orders for the then-new iPhone 8. At the time, Cramer said news about supply concerns or iPhone orders have plagued Apple investors "since the beginning of time" and they should ignore the report.

In a note to clients Wednesday, Goldman Sachs said it was reducing its earnings forecast for Apple due to the smartphone maker's new lineup of iPhones.

Goldman analyst Rod Hall said in part, "the new LCD 'XR' model was priced lower than we had thought likely" and "This effectively obsoletes two iPhone 8/8+ SKUs in our opinion."

— CNBC's Tae Kim contributed to this report.

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