NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report are up 0.62% to $129.59 in afternoon trading today after the company sent out invitations to an event on March 9 in San Francisco, where it will unveil details for the introduction of the Apple Watch, sources told Bloomberg.

The invitation reads "Spring forward," Bloomberg said, referencing the adage commonly used around Daylight Savings Time, which takes place on March 8, the day before the event.

The event will be held at the Yerba Buena Center for the Arts Theater at 10 a.m.

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Jim Cramer wrote last Friday in his 'Weekly Roundup' on Actionsalertsplus.com that he is "bullish on the company's prospects in the near-to-medium term."

Here is a snippet of what he had to say about Apple:

The stock traded higher yet again [last] week and is now up almost 20% in the last month alone as it pushes higher into record territory and its market cap approaches $750 billion. [Last] weekend The Wall Street Journal reported that Apple is working on designing a "minivan like" electric vehicle under a project codenamed Titan. Apple clearly showed an interest in the auto market when CarPlay was rolled out in early 2014; however, there has never been any official statement about an Apple-branded car. As more "things" become computers, we believe that Apple is very well positioned to leverage its heritage in the industry developing hardware and software innovations together across a vast digital ecosystem, creating easy to use, aesthetically pleasing products.

Certainly, the auto market is an enormous opportunity (some analysts model $1.4 trillion globally), and while we don't expect to see anything material emerge for some time, these stories are good reminders of how well Apple is positioned for the long-term. In the near-to-medium term, we are also bullish on the company's prospects. We're seeing an accelerating upgrade cycle across mobile devices, as many carriers are allowing customers to upgrade their devices before the two-year contract expires. There is great incentive for customers to do so given new services like Apple Pay/Passbook. To that end, we have written extensively that we believe Apple Pay and Passbook have tremendous upside potential as consumers both domestically and internationally (see: China) are rapidly latching onto the product. We expect it to become increasingly embedded within the payment ecosystem over the coming years. Our target is $125.

-Jim Cramer, 'Weekly Roundup' originally published 2/20/2015 on Actionsalertsplus.com.

Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, 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:

  • Powered by its strong earnings growth of 47.72% and other important driving factors, this stock has surged by 67.31% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, AAPL should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • APPLE INC has improved earnings per share by 47.7% 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 $6.43 versus $5.66 in the prior year. This year, the market expects an improvement in earnings ($8.58 versus $6.43).
  • 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 37.9% when compared to the same quarter one year prior, rising from $13,072.00 million to $18,024.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 30.7%. Since the same quarter one year prior, revenues rose by 29.5%. 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 Ratings Report

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