NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report are increasing by 0.26% to $94.33 in pre-market trading on Friday, as the company is working with partners in the U.S. and Asia to create new wireless charging technology that could be implemented on its iPhone as soon as 2017.
The tech giant is looking into advanced technologies that would allow iPhones and iPads to be charged from further away than current charging mats, according to sources cited by Bloomberg.
Apple is trying to overcome technical obstacles, such as losing power due to distance. Whether the company will decide to implement the technology is still being discussed.
The company's iPhones and iPads make up more than three quarters of its revenue. New technologies can give its products an advantage and help sell them at a premium in a slowing market, Bloomberg added.
Separately, TheStreet Ratings Team has a "buy" rating with a score of B on the stock.
This is driven by a few notable strengths, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered by the team.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, expanding profit margins and increase in net income.
The team feels its strengths outweigh the fact that the company shows weak operating cash flow.
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