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The new cameras unveiled this week for Apple's new iPhones are going to be a major asset to Facebook's photo and video sharing platform, Instagram, said CNBC's Jim Cramer on Wednesday.
Apple on Tuesday launched three new smartphones: the iPhone 11, the iPhone 11 Pro and the iPhone 11 Pro Max. Each camera has been upgraded with a new camera system to enable better wide-angle shots, Pro models featuring a third lens for ultra-wide-angle shots.
"When you see these great camera options for the new iPhone, you know what it's all about – getting the best possible photos for Instagram, which belongs to Facebook," said the host of "Mad Money," whose The charitable trust holds the shares of both companies.
"I'm not really qualified to judge the quality of the triple camera of the new phone, but it looks incredible," he added.
Cramer also said that he was a fan of Apple's tariffs for his highly anticipated Apple TV +, which will start at $ 4.99 a month for a family account. The service will be launched on 1 November and will be available in 100 countries. New shows will be added each month, the company announced on Tuesday.
"I've looked at some of their achievements for the video platform and some of them are essential, especially when they are so cheap – less than half the price of Netflix." Love this entertainment revenue stream, "he said.
Cramer previously praised Apple for what he called a successful transition, mainly from an iPhone maker to a service company. The company is more focused on its services as iPhone sales are declining, but individual product lines are still essential for the company.
Apple has also launched Apple Arcade, its game subscription service, which will be launched on September 19 in 150 countries.
Apple's shares closed up more than 3% on Wednesday after climbing more than 1% on Tuesday.
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