NEW YORK (TheStreet) -- Apple (AAPL) - Get Report stock is declining by 2.34% to $117.75 in late-morning trading on Tuesday, after the iPhone maker cut up to 10% of its hardware component orders, Credit Suisse said in a note today.

Weak demand for the company's new iPhone 6s likely prompted the cuts, Credit Suisse adds, reports. The analysts expect Apple to build fewer than 80 million units for the December quarter and between 55 million and 60 million units for the March quarter.

The firm lowered its iPhone estimates for next year to 222 million from 242 million, and forecasts for year-over-year growth of 6% in 2017 amid a "subdued" iPhone 6s and iPhone 6s Plus launch, according to 

Even so, any stock weakness creates "an attractive entry point."

"Specifically, we see scope for Apple's rapid installed base growth of iPhone to drive future upgrades beyond the next few quarters and additionally see the installment plans structurally accelerating the upgrade rates of iPhone users," Credit Suisse said in a note, adds.

However, TheStreet's Real Money Pro contributor Doug Kass notes that the firm said in its memo that supply chain weakness could negatively affect Apple's stocks for "the next few weeks/quarters." 

"Memo to Credit Suisse: There is a huge difference between a few weeks and a few quarters," Kass said. "A few quarters, in fact, could be a year! Which is it - weeks or quarters? Does Credit Suisse really want investors to own a stock that could go down for a year?"

Separately, 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • APPLE INC has improved earnings per share by 38.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, APPLE INC increased its bottom line by earning $9.20 versus $6.43 in the prior year. This year, the market expects an improvement in earnings ($9.91 versus $9.20).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Computers & Peripherals industry average. The net income increased by 31.4% when compared to the same quarter one year prior, rising from $8,467.00 million to $11,124.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 25.6%. Since the same quarter one year prior, revenues rose by 22.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. When compared to other companies in the Computers & Peripherals industry and the overall market, APPLE INC's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
  • You can view the full analysis from the report here: AAPL

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.