NEW YORK (TheStreet) -- Apple (AAPL) shares are up 1% to $98.95 on Monday following a report in the Guardian yesterday that production of the unscratchable sapphire covered iPhone 6 screens, which will increase the phone's durability, will begin large-scale production this month.
The sapphire screen has been one of the devices major selling points as Apple previously signed a $578 million deal with industrial sapphire supplier GT Advanced Technologies (GTAT) .
The iPhone 6 is expected to be unveiled at Apple's September 9 media event.
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TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."