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NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Free Report were declining in midday trading on Thursday as the tech giant said it is issuing a security update after strong spy software was found targeting an activist's iPhone in the Middle East, the Associated Press reports.

The spyware takes advantage of three previously unrevealed weaknesses in the company's mobile operating system to take complete control of iPhone handsets, according to computer forensics experts.

The Cupertino, CA-based company said in a statement that it fixed the weakness immediately after finding out about it, the AP noted.

(Apple is a core holding of Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AAPL

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